EAST COAST OFFICE RESULTS

• Sydney CBD vacancy is on the way up at 5.4%; North Shore saw mixed results with North Sydney showing the only improvement, while Parramatta saw demand decline and vacancy increase, while North Ryde softened as supply outweighed demand;
• First movement upward in vacancy for the Melbourne CBD office market; new supply and backfill space coupled with falling employment demand hampering improvement across the Melbourne office markets.
• Brisbane and Gold Coast office markets have continued to record increasing levels of vacancy as substantial new supply and softening levels of absorption impact these markets.

The Property Council of Australia released their Office Market Report for January 2009 providing results on the supply, demand and vacancy for major office markets across Australia. This edition of LandMark Byte will provide an overview of these results for the major office markets on the eastern seaboard.

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