According to the latest Property Council of Australia data (July 2006), the Melbourne CBD recorded a staggering net absorption figure in the last six months of 173,121 sqm, bring the total absorption for the last twelve months to 213,159 sqm.
These are the highest six and twelve month net absorption figures for Melbourne since PCA records began in 1990.
“Read more”:/assets/2006/10/31/MelbourneCBDOfficeMarketIndicatorsReport-Spring2006.pdf …
Conditions have tightened across the market reducing total vacancy of prime stock to 1.4% and secondary stock to 2.8%. With the mining and resource boom the primary driver of the market, demand is strong and supply is restrained.
“Read more”:https://www.colliers.com/Content/Repositories/Base/Markets/Australia/English/Market_Report/PDFs/BrisbaneCBDOfficeMarketIndicatorsReport-Spring2006.pdf …
The demand for suburban offices is strong, and construction is underway for 848,000 sqm of space across some 90 projects.
Land Mark have just released a “detailed report”:https://www.lmw.net.au/research/Byte/061004.pdf showing you the latest facts and figures.
Hawthorn has been the pacesetter in Melbourne’s suburban office market this year with limited opportunities for new development and tenant demand for extra or improved space driving up rents and pushing down vacancies.
But while Hawthorn — and particularly Burwood Road — in the inner east has been red hot, the opposite story has come out of the suburbs of Mount Waverley and Mulgrave, where an over-supply of office stock has failed to be absorbed and rents have been stagnant.
“Read more”:/assets/2006/10/31/Offices-SE-Suburbs1.pdf …
