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.