After a number of years of boom, when commercial tenants were often hamstrung by costly commercial leases and conditions, the pendulum has finally begun to swing in the other direction.
Vacancy rates in Perth are nudging past the 10% mark and are expected to rise to around 14% by 2016. Vacancy rates in Brisbane are currently sitting at 14.2%, which is the highest on record. With more office space currently under construction, further increases are likely. The Sydney market is sitting at 9% having remained relatively stable over the past six months and Melbourne is sitting at 9.6%, which has contracted slightly over the past year.
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