Jobs growth to rescue falling office rents
Nick LenaghanProperty editor
Buoyant jobs growth as the economy rebounds more quickly than once expected from the downturn will boost demand for office space and put a brake on falling rents, according to Colliers International.
Face rents – the top-line amount in lease agreements – for premium office space in Sydney is expected to fall 2.3 per cent and by 1 per cent in Melbourne over the coming year, on Colliers’ forecasts.
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Nick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts. Connect with Nick on Twitter. Email Nick at nlenaghan@afr.com
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