The ACT office market looks set to go from strength to strength with a total of 108,640sqm of new space is due to enter the market in 2023.
The Property Council of Australia’s latest Office Market Report released today reveals the ACT continues to have the second lowest office vacancy rate of all Australian capital cities – increasing from 8.6 percent to 8.9 percent.
ACT Acting Executive Director Ross Grove said the relatively low vacancy rate and new supply to come online this year demonstrates how Canberra’s office market continues to shine.
“These results are very pleasing to not only investors but the people of Canberra – a strong office market in any CBD depicts certainty, longevity and survival of a city,” Mr Grove said.
“The Commonwealth employment base and tenancies which continue to be sought in Canberra are no doubt helping drive positive demand for office space.
“It’s just so pleasing to see the Canberra market in such a strong position, given the last three years of the pandemic.”
