CBD Offices on the Move

Westpac has just released an Australia-wide outlook for Commercial property. And it predicts you will start to see growth in rents and values during 2010-11.

Two Cities

Two Cities

As employment numbers grow with the improved economy, demand for Office space will also take off again.

Melbourne’s rents have already started to move — where a vacancy rate of 5.3% is heading towards 4%; and there are no new buildings due for completed until 2012.

Despite the renewed resources below them, filling the looming vacancies in Perth (heading towards 15%) and Brisbane (towards 12%) will stall their Office recovery until mid to late next year.

However, Sydney (with an 8.1% vacancy) should start to move around the end of this year.

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