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Commercial vacancy rates approach zero
By Bianca Dabu
30 July 2021
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1 minute read
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Record-low interest rates have dramatically increased demand across the commercial property market, with industrial assets leading the charge.
Raine & Horne’s Commercial Insights for Q2 2021 revealed that a growing number of businesses, particularly small and medium enterprises, are investing in their own premises rather than opting to rent as low rates make properties more affordable.
“Industrial property is experiencing skyrocketing demand, while the office space market is adjusting to the ‘new normal’ of flexible work arrangements,” according to the report.
With demand from investors lifting competition, vacancy rates are being reduced to near-zero, particularly across South Western Sydney.