News Articles for Graham Postma

The CBD has seen a 0.8 per cent increase in office vacancy rates in the past six months as new supply hits the market, Property Council figures show.

Perth may have the highest office building vacancy rate nationally, but that's done little to dampen the confidence of investors, developers and real estate agents.

Although the pandemic has emphasised business can be done from anywhere, commercial property players are banking on the value of four walls.

Perth's office vacancy rate has fallen to its lowest level since 2015, with increasing momentum in commercial leasing reflecting brighter sentiment across Western Australia's business sector.

Listed investor Growthpoint Properties Australia has struck a deal to buy a Wellington Street office building, the latest deal off the back of a healthy sales pipeline for Perth's commercial office market.

Perth's CBD office market recorded $740 million worth of major transactions in the 12 months to March 2018, more than three times higher than it was this time last year, according to research undertaken by Savills Australia.

Some in the state's property sector are confident it has turned the corner, and are expecting further signs of improvement across 2018.

Perth's commercial property market got a dose of good news/bad news this morning, with the office vacancy rate slightly lower than it was expected to be at 16.6 per cent, however it was the highest

FEATURE: Perth is in the middle of its biggest wave of office construction in decades, but a sustained burst of new supply means future prospects for commercial developers are increasingly bleak.

Property firm Savills has warned of a significant office vacancy shortage in Perth's CBD after Chevron Australia announced it was leasing more than half of 256 St Georges Terrace.