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Working from home brings suburban strips back to life

The stubborn work-from-home trend may have created a major headache for CBD landlords as vacancy rates soar, but it’s been a boon for many suburban shopping strips that are reviving as people shop and spend locally.

In Melbourne’s affluent south-eastern suburbs, the vacancy rate on High Street Armadale – famous for its bridal shops, fashion boutiques and cafe culture – has more than halved in two years to just 2.3 per cent, according to Fitzroys’ 2024 Walk the Strip Report.

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Larry Schlesinger was a reporter at The Australian Financial Review.

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    Original URL: https://www.afr.com/property/commercial/working-from-home-brings-suburban-strips-back-to-life-20241014-p5ki34