The tech wreck is being felt in the office market – office sub-lease availability, a key barometer of business conditions, is up 3 per cent nationally as operators in Sydney and Melbourne look to cut costs by reducing excess space.
The volume of sublease space available nationally has hit 255,000 square metres, and the rise in the information, media and technology (IMT) sector is the largest contributor to the 7000 sq m jump in the overall tally, according to an analysis by commercial agency CBRE.
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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
