Page 33 - Ken Morrison News Today

Office vacancies hit record high with some cities trailing considerably behind By Maja Garaca Djurdjevic 04 February 2021 | 1 minute read SHARE Australian’s office vacancy rate hit its highest level since January 1997, with Sydney and Melbourne tipped to see further increases during the course of 2021. Australia’s office market vacancy rate increased from 9.6 per cent to 11.7 per cent for the six-month period to January 2021, hitting its highest level since January 1997, new data from the ...

Office vacancies balloon to 24-year high at 2:40 pm on February 4, 2021 | 9 comments Data from the Property Council of Australia (PCA) shows that the national office vacancy rate rose from 9.6% to a 24-year high of 11.7% in the six months to 31 January. The CBD vacancy rate rose to a six-year high of 11.1%. Sydney and Melbourne were the only major CBD office markets that recorded single-digit vacancy rates for the period, at 8.6% and 8.2% per cent respectively. PCA CEO Ken Morrison says the add...

Aussie workers to prop up commercial property sector By Cameron Micallef 01 February 2021 | 1 minute read SHARE Australian workers returning to the office post-pandemic are likely to spur on the commercial property sector as well as help support Australia’s economic recovery, new research has shown.  Following a year of disruption caused by the COVID-19 pandemic, Australia’s largest owners and managers have declared they’re ready for workers to return post-summer break. Property Counci...

Record numbers of first home buyers are coming into the market assisted by the government’s HomeBuilder stimulus, which is expected to help spur $50 billion in economic activity.

Date Time HomeBuilder workhorse of economic recovery The success of the Federal Government’s HomeBuilder grants program demonstrates the power of residential construction in supporting jobs and driving economic activity. According to new figures from Treasury, more than 75,000 households have applied for the HomeBuilder grant with around 80 per cent of these for new construction. “HomeBuilder has been the workhorse of Australia’s recovery from the impact of COVID-19, supporting hundreds o...