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1.Market Observations, 8.Was Sticky

1 Aug 2019 (TheAge) – Softening economy drives demand for office space to four year low – undermines low office vacancies

(1 August 2019, The Age, p22, By Carolyn Cummins)

‘Cautious white collar employers have put the brakes on leasing new office space in the nation’s biggest cities driving demand to the lowest level in years as economic uncertainty weighs on confidence. The latest Property Council of Australia office market report for the six months to July depict a market at a standstill, with vacancy rates kept low as office buildings are removed from the market and tenants wary of expanding into new space.’

Read more at TheAge.com.au

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