National office vacancy rate hits 30-year high
With a deluge of new offices hitting the market and workers entrenched in their work from home arrangements, national vacancy rates continue to rise.
Some office markets, like the Gold Coast, are proving popular while others, such as some non-CBD markets in Sydney and Melbourne, are struggling. (Image source: Monkey Business Images/Shutterstock.com)
Office vacancy rates in Australia have hit a 30-year high as cities and non-CBD markets alike struggle to attract corporate tenants, lure people back to the white collar workplace and overcome a tide of new supply hitting the market.
The Australian CBD office vacancy rate crept up slightly from 13.7 to 14.3 per cent over the first six months of the year, to be at the highest level since the mid-1990s.
A continuing stream of new high-quality off…
