Commercial property vacancy rates

The Sydney CBD office market has tightened further as tenant demand outstrips new supply, while vacancy remains at a low level in Melbourne. This article originally appeared on theaustralian.com.au/property.

Melbourne’s office market is leading a nationwide surge amid the race for CBD space.

The decline of prime office options in Melbourne’s St Kilda Rd precinct is both a boon and a bust, depending on your outlook, one agency says.

Vacancy on inner-city Melbourne thoroughfare St Kilda Rd has fallen to its lowest level in eight years, amid predictions the precinct will one day be overwhelmingly residential-based.

Sydney CBD retailers are paying a growing premium for space in Australia’s hottest shopping market, with prime rents ballooning by more than a quarter.

Total vacant space in Brisbane’s industrial market has fallen for the fourth consecutive quarter and is now down by more than 10% compared with a year ago.

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.