Parramatta. Office vacancy rate increases

The office vacancy rate in the Parramatta CBD increased to 10.7 per cent for the six months to July, up from 9.8 per cent in January and 9.5 per cent in July 2009. The July figure was the highest in four years, according to the Property Council of Australia. The increase was attributable to 3714 square metres of negative net absorption and additions to stock totaling 2967 square metres. Parramatta’s total office stock is 685,371 square metres

North Ryde. Office vacancy rate decreases

The office vacancy rate in North Ryde, in the six months to July, decreased to 11.3 per cent, down from 12.2 in January and 12.3 in July 2009. The decrease was despite 12,000 square metres of supply additions, according to the Property Council of Australia. Only 16,700 square metres is scheduled to enter the market in the short to medium term. North Ryde’s total office stock is 795,257 square metres.