Thursday, 2 February 2012

Parramatta. Office vacancy rate

The vacancy rate in Parramatta decreased from 9.3 percent to 9.1 percent in the six months to January 2012, its lowest level since July 2008. The decrease was due solely to positive demand, with net absorption of 1,063 square metres in the past six months, according to the Property Council of Australia Market Report.

NSW executive director, Glenn Byres, said 25,050 square metres of space is scheduled to enter the Parramatta market in 2012, nothing is scheduled to come online in 2013, 3000 square metres of projects are planned to be completed from 2014 onwards, and 61,905 square metres of space is mooted.



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