CBD office vacancies jump to 12.3%: report

Office vacancies in the Perth CBD have risen by nearly a full percentage point to 12.3 per cent according to the Property Council of Australia’s latest office market report.

Adelaide had the highest vacancy rate of 18.1 per cent while Sydney fared better than any other capital city with a vacancy rate of 6.4 per cent.

The Perth CBD also had the highest sub-lease vacancy rate at 1.8 per cent, equalled only by economically stagnant Hobart.

Property Council executive director, Joe Lenzo said occupied space declined by 6,100 square metres in the Perth CBD and 9,000 square metres in West Perth due largely to the slowdown in the resource sector which resulted in some mining companies deserting the Perth CBD.