Office Absorption has changed a lot in the office markets over so many years. The covid era simplified matters and shaped the way office absorption has happened since its start. We look at PCA office absorption for the 5.5 years up to and including January 2020...
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The graph below shows 6 monthly office space absorption in the 6 capital cities since 1990 from the PCA figures. They are the most consistent figures in the market. Last week’s CREview numbers showed how absorption has changed over the last 5 years. But what does the...
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For a while there was a lot of discussion about office space supply; undersupply, lack of supply, even “supply crisis”. As often happens, things have calmed down and that is because supply is not really the issue. Demand is thin, and remains so. In many examples...
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Nice to be back from a whirlwind trip in the US visiting 4 cities in 11 days. Nashville is a fun town and if you ever get the chance, go to Broadway and listen to the quality of the bands. The place is a zoo...
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We have previously explained the accordion effect in the office markets, where tenants relocate from one market to another; very often from the CBD to the suburbs or from the suburbs to the CBD The usual culprit is cost. When the costs get too high in...
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After reading and hearing so much about the supply crisis, we delved further into the facts and figures to see what it was really all about. There is enough to write a white paper but too much for CREview so following are just a handful...
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The Australian Financial Review Property Summit on Monday was a great event and thank you to the AFR, its staff, and all speakers for an insightful look into the commercial property world. The panel that resonated the most was "The Great Retail Revival" with Elliott Rusanow, CEO, Scentre...
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For the last little while, the most popular word in the office market community has been “supply”. Not enough supply, undersupply, supply shortage, you name it – supply is everywhere. Every time I look for a CRE tenant client, I find the “supply”. Whether the vacancy...
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In looking at the PCA OMR vacancy numbers for the 6 major capital city CBD’s, it’s all straight forward. One can talk it up or down but there were no surprises. [caption id="attachment_6085" align="aligncenter" width="450"] Source: Property Council of Australia Office Market Report 1990-2025[/caption] Vacancy increased marginally...
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Every 6 months since January 1990, the Property Council of Australia has released its Office Market Report (OMR). It is a consistent and highly anticipated update on the office markets around the country. The OMR release event in Sydney always reminds me of the 1980’s...
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