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According to the latest results from the ANZ/Property Council Survey, the property industry confidence levels are steadily bouncing back after recording near-record highs as the sector surges into economic recovery from the COVID-19 pandemic.

 

The national industry confidence for the March quarter continued its upward trend to 142 points, rising...

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The Property Council of Australia’s latest occupancy survey revealed that workers are gradually returning to the CBD’s as health restrictions are rolled back. The back to office trend is a positive sign for the battered hospitality and retail businesses that thrive on CBD foot traffic.

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With the January 2021 Office Market Report revealing Canberra to be the only mainland CBD market to not record an increase in vacancy over the six months to January 2021, holding steady at 10.1%, it comes as no surprise the majority of surveyed industry experts believe Canberra will be the hottest market in the coming 12-months.

 

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CBD Occupancy takes a hit

OFFICE • March 3, 2021

Australian CBDs have taken a hit due to recent COVID-19 lockdowns, with new data revealing a deceleration in the rate of workers returning to their offices. 

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The new year has lifted our confidence in reactivating major CBDs across Australia despite COVID outbreaks in several cities over the Christmas period. The latest survey of CBD office occupancy by the Property Council of Australia found that nearly all capital city CBDs were busier at the end of January than they had been before Christmas.

 

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Australian office vacancies have edged higher as COVID-19 has reduced demand for office space while significant new supply has entered the market over the six months to January 2021. The Property Council Australian Office Market Report for January 2021 reveals that office vacancy rates increased across most capital city markets surveyed.

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