Office vacancies decrease

In spite of the addition of 48,331 square metres of new space, office vacancies in the Parramatta CBD have fallen from 8.2 per cent in the six months to July 2007 to 7.4 per cent in the six-month period to January 2008, according to the Property Council’s Australian Office Market Report. The A-grade vacancy figure was 2.2 per cent, a significant drop from 10.8 per cent two years previously. The current figure compared with 2.9 per cent of the total Australian non-CBD statistics and 3.0 per cent of the total Australian market.