Region. Office vacancy rates

Vacancy rates in Parramatta and North Ryde are the lowest in four years, according to the Property Council of Australia’s report for the six months to July. Parramatta’s vacancy rate declined to 8.7 per cent from 9.1 per cent. A- and B- grade offices in Parramatta were tightly held by tenants, but C- and D- grade had vacancy rates above 15 per cent. Office vacancy rates in North Ryde fell to 6.7 per cent from 8.2 per cent. “Macquarie Park, Sydney’s next major CBD, was a surprise. Solid take-up, with tenants moving in from the north shore, Frenchs Forest and Gladesville, has almost halved the vacancy rate in three years,” The Australian Financial Review said.