The Sydney CBD vacancy is 4.1 per cent down compared to the 4.6 per cent of July last year. Office vacancy has decreased again in the past six months to January.
Sydney, however, maintains a higher vacancy compared to Melbourne according to the latest Property Council Office Market Report.
"Competition is good, and Australia has two of the strongest office markets in the Asia-Pacific region, however Sydney is losing ground on our southern neighbour in terms of both space in the pipeline and demand," Property Council of Australia NSW executive director Jane Fitzgerald said.
Sydney is expecting another 80,000 sq m to 100,000 sq m of space between 2019 and 2020.
Image source: Christopher Pearce
Article Source: https://www.afr.com/real-estate/commercial/leasing/sydney-office-vacancy-falls-but-lags-the-tighter-melbourne-market-20190206-h1axdl
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