National Australian Office Vacancy Rises to 8 Per Cent

OFFICE vacancy levels across Australia have increased to a five-year high, but some markets are performing much better than others.

The latest Property Council of Australia Office Market Report, which measures stock and vacancy levels for major office markets (like North Sydney, the Sunshine Coast, and the Melbourne CBD), reports the national vacancy level rose to 8 per cent.

A flood of new office stock totalling 560,000 is set to be developed in major office markets over the next six months – making it the biggest office building boom since 1992 (when vacancy in some office markets surged over 25 per cent).

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