CBD office vacancies balloon as well

Via JLL:

JLL Research’s third quarter statistics on national office markets showed negative net absorption of -193,700sq m over the September quarter and the national CBD office market vacancy rate rose by 2 percentage points from 10.2 per cent to 12.2 per cent.

“Corporate Australia is the new landlord in town with a sharp increase in sublease availability across the Sydney CBD and Melbourne CBD. The observation in Australia is replicated across developed economies with US sublease availability surpassing the levels recorded in the financial crisis and tech wreck,” Mr Ballantyne said.

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