Australian CBD Office Vacancy Remains Solid, Except Melbourne Where It Hits 20-Year High

The Sydney Opera House and Central Business District is seen in Sydney, Australia on April 16, 2017. AAP Image/Sam Mooy

According to a new report, demand for office space in Australia’s Central Business Districts (CBD) has defied expectations by remaining surprisingly solid, except Melbourne, which has dropped to its lowest level on record.

The Property Council of Australia’s (PCA) Office Market Report revealed that overall CBD vacancy edged higher from 11.1 to 11.2 percent in the six months to July.