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Brisbane CBD : Vacancy reaches record high - Q1 2014

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National economic growth surprised on the upside in Q4 2013, recording 0.8% growth for the quarter. This is an improvement on previous quarters, which had largely held at around 0.6% quarter-on-quarter (q-o-q). Queensland’s economy however, contracted by 0.4% in Q4 2013, well below the 1.0% quarterly growth average of the past 3-years.

Over the course of 2013, Brisbane CBD received 27,827 sq m of stock additions - less than half the 10-year average. The absence of new supply in 2014 comes at a welcome time for Brisbane CBD, with weak demand drivers and record levels of vacancy. However, a number of large-scale projects are scheduled to complete in late 2015 and beyond.

Source : DTZ (Groupe UGL)