Vacancy has surged higher in the Melbourne and Sydney CBD office markets, with the supply of space exceeding weaker demand as firms contract.
Business uncertainty flowing from the pandemic – especially in Melbourne, where a new lockdown has been decreed – has escalated vacancy in what had already been expected to be a softening leasing market.
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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
