Parramatta. Office demand rising

New research confirms tenant demand is rising, particularly in Parramatta, Macquarie Park and parts of the north shore, according to a report in The Sydney Morning Herald. A CBRE report highlights Parramatta as one of the key markets, with the area’s grade-A vacancy rate having fallen to 1.8 per cent, the lowest rate recorded. The associate director of office services for CBRE, Stephen Panagiotopoulos, said the Parramatta market had very little development activity in recent years, though a number of projects were expected to start between 2012 and 2015