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Wednesday, May 12, 2021
BAL Lawyers
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Canberra attracts office market

Canberra’s attractions and ‘liveability’ are increasing demand on the city’s office stocks, according to Colliers International Director Office Leasing, Michael Ceacis.

“Over the past few years, Canberra has topped a number of liveable city polls, including being named the best place in the world to live by the Organisation for Economic Co-operation and Development in 2014,” he says.

“Directly linked to Canberra’s strong appeal is its low residential and commercial vacancy rates. We currently have the lowest CBD A-Grade office vacancy rates in the nation. The vacancy rate in the city centre stands at just 1.7%, according to Colliers International research, and we predict it will fall even further by the end of the year.”

Over 70% of the ACT is open space, and Canberra enjoys the lowest unemployment rate in the country and the highest median income. The ACT’s population is growing by around 1.9% per annum, second only to Victoria.

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