The property council of Australia recently released statisics on office vacancy rates around the country.
Across the 26 CBD + suburban office markets they report the vacancy rate fell to 7.9% at the end of January 2012, which is the lowest rate since 2009.
Mining had a positive impact to Perth and Brisbane markets.
Weak demand from Sydney’s financial sector has not had a positive influence on demand.
Little new stock has been build which has contributed to the reduction in vacancy rates.
North Ryde vacancy rates have fallen from 9.9% to 8.2% (Australian Financial Review 03/02/12)representing a reduction from previous years.
Australian Financial Review 03/02/12 Pg 43