Return to work not yet taking hold in office markets
Office markets across Australia continue to experience COVID symptoms, with the working from home phenomenon and new developments pushing overall vacancies to their highest point in more than two decades.
While workers are beginning to return to central business districts, office vacancies continue to rise in key markets. Photo: Shutterstock (Image source: Shutterstock.com)
Office markets across Australia continue to experience COVID symptoms, with the working from home phenomenon and new developments pushing overall vacancies to their highest point in more than two decades.
The Property Council of Australia said Australian office market vacancies increased from 9.6 per cent at the end of June to 11.7 per cent at the start of January, the highest rate since January 1997.
Net absorption, or the amount of space take…
