Commercial property vacancy rates

A Melbourne commercial agent says overpricing and local government red tape are continuing to hurt Richmond’s Bridge Rd retail strip.

The Australian capital city office vacancy rate is at the highest point in two years, as a growing number of spaces come on to the market and areas outside of Sydney and Melbourne struggle. This article originally appeared on theaustralian.com.au/property.

Sydney’s lack of vacant office space might be a great thing for landlords, but it could soon be a major issue for the city’s economic growth, and here’s why.

Australia’s two-paced retail market has continued to diverge, with rental growth in Sydney and Melbourne still gathering steam, while other cities tread water or lose ground.

Perth’s office market will continue to be pounded by the mining downturn, with rents in the city’s skyscrapers to fall a further 23% and stay depressed for 10 years, research says. This article originally appeared on theaustralian.com.au/property.

With vacancy rates and incentives rising, many in the media are calling the office market oversupplied. But that conclusion has been drawn too fast, Paul Thornhill finds.