Lack of Construction Underpins
Demand for Office Space

Available Full CBD Office Floors are quickly vanishingThe Commercial property market is driven mainly by supply and demand — especially Offices.

And therefore, with …

  • falling vacancies,
  • positive net absorption and
  • few new projects in the pipeline …

… this means a looming shortage of Office space around Australia — with rentals poised to rise sharply. [Read more…]

Melbourne Leads the Office Market

Savills International has just released a report on the current level of Office supply within the Melbourne CBD.

 Melbourne CBD Office Vacancies

Melbourne CBD Office Vacancies

Strong demand has seen the number of floors of Prime space within the CBD fall from 60 at the end of January this year, down to 42 at present — a decline of some 30%.

The amount of Secondary Office space has also fallen from 108 floors to 89, over the same period.

And underpinning all of this is the level of enquiry, which has jumped by 300% over the last six months.

Can You Afford to Miss Out?

The other day, we took a look at Commercial property cycles, and where the various Australian CBD office markets might sit.

Currently, Melbourne seems to be “leading the pack”. But you might be interested to explore exactly why that is.

Melbourne Office Market

Melbourne Office Market


Some recent research by Jones Lang LaSalle indicates that Melbourne’s Office vacancy is likely to fall to around 5.4% by 2013.

Several pundits are suggesting it could be even lower.

h3. And the reason why?
[Read more…]

CBD Office Shortage Looming for Melbourne

h3. And Rentals are Set to Rise …

The recent boom period saw prime Office rentals in Brisbane, Sydney and Perth hit the $1,000 per sq metre mark. However, they have fallen dramatically from that peak, since mid-2008

Meanwhile, Melbourne has remained steady at around $750 per sq metre — mainly because most of its new development has occurred in pre-committed medium-rise buildings, within the Docklands precinct.
[Read more…]

Melbourne Offices: Alive and Well

Even though things may be slowing in Queensland and over in the West … the Melbourne CBD Office market seems to be travelling quite well.
[Read more…]