Property Council Australia

With people used to knowing the energy performance of their dryer or fridge, there’s now a push for a similar rating system on homes.

Property companies say they are well positioned but expect 2023 to be challenging.

The Property Council of Australia has lashed the federal government’s move to hike fees for foreign investors attempting to buy Australian commercial property, arguing that the new regime will discourage the investment required to support the nation’s economic recovery.

The powerful construction industry is pushing for major projects in Melbourne to remain open as the Victorian government prepares to impose strict rules on business amid fears a harsh shutdown could lead to a deep recession.

The lockdown of Melbourne that has left major firms unsure when they will return to their offices and CBD retailers shuttered is hitting listed property developers and investors.

Landlords providing tenants with more flexible leasing options may be the remedy to softening demand for office space in towers in the Sydney and Melbourne central business districts.

Rising appetite for office space has pushed the vacancy rates in Melbourne and Sydney’s CBDs to their lowest level in 10 years, according to the Property Council’s Australian Office Market Report.

The Barangaroo South urban ­renewal project has taken top honours at the Property Council of Australia’s awards ceremony, lauded for its design and sustainability features. 

Eastern seaboard office markets continue to strengthen with ­vacancy rates dropping below 5% in the country’s two largest cities, driven by upbeat economic conditions in Melbourne and a withdrawal of office space from the market in Sydney.