Property Forecasting > Report

Perth Commercial Property Market 2019-2029

The recovery in the Perth office market is coming through, driven by solid employment growth as businesses gear up for the next resources led upswing. However, the market remains heavily oversupplied, with the CBD vacancy rate tracking towards 18% by year end. The key driver for both direct and indirect office demand in Perth remains resources investment. Our forecasts are for a strong investment upswing to 2023, albeit much more modest than the last boom. Meanwhile, the completion of two major CBD office projects will slow the recovery. On our forecasts, it will take until 2026 for the vacancy rate to fall below 10%.

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