Parramatta. Vacancy could peak at 15 per cent

Parramatta has been through as hell of a year, scarred by rising office vacancies and poor sales. And next year offers little hope of respite for investors, except for one mitigating factor: a scarcity of new developments, according to The Sydney Morning Herald. Vacancies peaked at 10.3 in July 2006 and fell to 7.3 per cent in the first half of this year but is expected to rise by 2012-13. As Parramatta office market enters a new supply cycle from January 2011, vacancy is forecast to increase, peaking at almost 15 per cent by the end of 2012-13,” said LandMark White.