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Market Overview

West Perth Office

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West Perth Office

Positive net absorption was recorded by the Property Council of Australia (PCA) for the six months to January 2013, totalling 6,201m². This follows the 19,943m² that was absorbed in the first half of 2012.

The PCA total vacancy rate increased to 4.5%, up from 3.3% in July 2012. However, this is on a par with the vacancy rate recorded in January 2012. Knight Frank has calculated that the level of space being actively marketed in West Perth was 9.9% of total stock as at January 2013.

Three major transactions occurred in West Perth totalling $63.485 million. Core market yields for Prime-grade buildings are on average 8.5% with Secondary-grade properties yielding an average of 9.0%. These yields have remained stable since  September 2012.

Source : Knight Frank

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