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canberra

Commercial Property Looking Forward

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Is there a Future for Offices?

The last couple of articles have talked about all the misplaced doom and the gloom.

Plus, you also covered the various reasons why Australia overall is well placed to flourish (and not just survive) the current global distress.

A recent report on the Australian Office scene (by Morgan Stanley property research) would only tend to confirm that view. Their only concern would be the Sydney market, due to its heavy exposure to the financial sector. [Read more…]

Commercial Construction
Outlook Remains Soft

While Australia’s overall business expenditure has remained fairly strong, our Commercial construction and infrastructure outlays are expected to decline by at least 10% this financial year.

Construction OutlookBCI Australia is forecasting project construction of some $63 billion 2009-10, which is about $7.7 billion down on that for 2008-09.

In all but for Victoria and South Australia, there was general over construction during the past few years. And therefore, you are not likely to see new Commercial construction pick up, until mid-2010.And that’s good news as far as impending cost rises, for anyone planning a new project.
[Read more…]

Which Australian Office Markets are in Trouble?

Queensland seems to have been hardest hit. And in particular the Gold Coast, where vacancy levels have soared to around 18%.

But the difficulties confronting Queensland (and fellow mining State WA) are not necessarily reflected Australia-wide.
[Read more…]