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Melbourne Offices: Alive and Well

Even though things may be slowing in Queensland and over in the West … the Melbourne CBD Office market seems to be travelling quite well.

Last year, it recorded the second highest take up of space at around 203,000 sq metres.

Melbourne CBD Office Vacancies During the first half of 2008, the vacancy rate has tightened from 4.4% to 3.1%.

And this should continue within the “balanced” band of 5% to 7% till 2012.

Rental levels have also increased due to strong demand and limited new supply. And the tightening in financial sector is likely to affect Sydney, far more than Melbourne.

While things may move sideways from now until Christmas … you can expect a rebound in leasing and sales activity in the New Year.

This entry was posted on 22 October, 2008 at 3:32 pm and is filed under Economic Issues, Investment Opportunity, Office Markets. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

2 Responses to “Melbourne Offices: Alive and Well”

  1. Daniel Brown Says:
    23 October, 2008 at 12:46 pm

    Hi Chris,

    Thanks for the above mentioned information. Do you have anything similar for Sydney. We have a 450m2 heritage office bldg in Pyrmont and wanted to get a feel for the market sales and leasing wise. ( Market review coming up + looking at investing again if the right deal comes along)

    Regards / Thanks - Daniel.

  2. Chris Lang Says:
    17 December, 2008 at 7:59 am

    Daniel

    I’m not sure if I came back to you on this — if not, my sincere apology. But unfortunately, I’ve not been able to turn up anything that I’d be happy with.

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