CBD Offices Shaping Up as a 2-Speed Market

ACCORDING TO the latest quarterly report from JLL (AFR: 14 July p35), the Australian CBD office scene was in much better shape, as at the end of June this year.

However, it was only Sydney and Melbourne that displayed any marked improvement.

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CBD Office Markets Vary Greatly

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THIS IS CERTAINLY a two-speed story, according to the Property Council’s most recent Office Market Report.

The vacancy rate in Perth currently sits at around 20%; with office rentals down about 40% since there 2012 peak.

Sydney saw a 100,000 sqm take-up in the 12 months to December — which is three times its historical average. And the demand for office space was also strong for Melbourne.

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