Office vacancies rise, but COVID's impact 'modest'
Vacancies are up across CBD office markets, but the COVID crisis is yet to result in a mass exodus of tenants from the inner city.
Sydney's motorways aren't as full as they were pre-COVID, with corporate tenants needing less space as employees work from home. Photo: Shutterstock (Image source: Shutterstock.com)
Vacancies are up across CBD office markets, but the COVID crisis is yet to result in a mass exodus of tenants from the inner city.
The Property Council of Australia’s latest analysis showed Australian CBD office vacancy rates increased a relatively modest 1.2 per cent over the six months to July 2020.
Given the enormous impact on business wrought by the COVID-19 pandemic, and the fact that many professionals had transitioned to working from hom…
