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Daily Telegraph: Parramatta proves popular with businesses as office vacancy rate recorded as second lowest in Australia

BUSINESSES are flocking to Parramatta with no signs of slowing down.

The city’s office market has the second lowest vacancy rate in the country, according to the Property Council of Australia’s Office Market Report, with East Melbourne just ahead of the western Sydney suburb. Parramatta CBD

The vacancy rate fell in Parramatta from 5.6 per cent to 4.5 per cent in the six months to July 2016, with no new office space to come onto the market next year, the report says.

Property Council of Australia NSW Executive Director Jane Fitzgerald said Parramatta’s current office vacancy rate was the lowest rate in 26 years and highlighted a strengthening of demand in the past 18 months.

To read the full article, please click on the link: Daily Telegraph, 4 of August 2016