Office vacancy rates remain low for Melbourne in the first quarter of 2020, with the key drivers being competitive rents and a great city lifestyle.
The city continues to prepare for future growth with over 600,000 sqm being supplied by 2022. Over 400,000 sqm of this will come to market in 2020. *
The latest data from the Property Council of Australia reveals that, as of January 2020, Melbourne’s vacancy rate is the lowest in the country, with only 3.2%, compared to Sydney, which has a vacancy rate of 3.9%. This makes our city the tightest leasing market in the country.
*This article is based on data from The Property Council Of Australia 2020 Office Market Report
These days most organisations are aware of the role that property plays in supporting their business. However, a common mistake occurs when the choice of properties is presented as the final offer, without flexible solutions to address changing business needs. Many businesses believe that what they see is what they get without properly understanding a property’s potential.
What are the steps we’re taking in 2020 to make the workplace more inclusive?
Across Australia workplaces are adopting practices and designs that celebrate the individual differences of the worker. Where diversity was once unique to the common workplace, it has now become a legal responsibility, with laws in place to ensure all types of workers are accepted. But these days, workplace design goes far beyond legislation.
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