The vacancy rate in Australian offices has tightened. More than half of capital city CBDs have
recorded a vacancy decrease, according to new data from the Property Council of Australia.
Property Council of Australia Chief Executive Mike Zorbas said the latest figures were
encouraging.
“It is pleasing to see vacancy levels fall in half of Australia’s CBDs,” Mr Zorbas said.
“There is room for very cautious optimism in parts of the office market.
“In our CBDs, office supply is continuing to be a driving force for vacancy levels as demand for
office space has been positive.
“This demonstrates businesses still see a CBD location as the best place to do business. – July 2023
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