The latest Property Council survey of office occupancy reveals that Melbourne was running at just 12% of workers in offices in July, down from 26% in June, as the city was plunged into its fifth and then sixth lockdown.
In fact, Melbourne’s office occupancy is running at its lowest since the very end of last year’s 14-week lockdown, and have also remained below all other capitals since the beginning of the pandemic. Office vacancy rates in Melbourne are now tracking at a 20-year high and demand has plunged to levels not seen since the early-1990s recession:
PCA Victorian executive director Danni Hunter said after climbing back to 45 per cent of pre-Covid levels in April this year, office occupancy in Melbourne CBD went backwards as Victoria endured repeated lockdowns.
