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.

North Ryde. Decline in vacancy rate

North Ryde was one of only two NSW office markets to witness a decline in its vacancy rate during the second half of 2009, according to the latest Colliers Sydney Metropolitan Office Research & Forecast Report. The total vacancy rate in the North Ryde office market declined by 0.1 per cent over the course of the six-month period from 12.1 per cent in July 2009 to 12.2 per cent in January 2010. Both the A- and B-grade markets witnessed a decline in vacancy of a similar size with the A-grade market declining to 13.7 per cent and the B-grade market to 8.4 per cent.