Attached is our update on the Australian office market following the recent release of the PCA figures for July 2012.
The National CBD vacancy rate is 7.8% (January 2012 8.0%).
The Non-CBD vacancy rate is 9.0% (January 2012 9.3%).
Winners: markets with the best reductions in vacancy rate:
- Sydney, Canberra, North Ryde, Crows Nest/ St Leonards
Laggards: markets with a significant increase in vacancy rate:
- Brisbane, Perth, Melbourne.