Gold Coast and Griffith climb to peak of office market cycle: HTW clock
After several months of vacancy, the office market has a leader, with Gold Coast and NSW’s regional town of Griffith at the peak of the cycle, according to property valuation firm Herron Todd White’s latest commercial clock.
In the last office clock in July, Gold Coast was approaching the peak. Also, the peak of market slot was empty.
Meanwhile, Newcastle has dropped out of the approaching the peak position to a rising market, joining Sydney and new entrants Sunshine Coast and NSW Mid North Coast.
Melbourne remains at its position of approaching the peak.
The list at the bottom of market is large, and includes capital cities Adelaide, Brisbane, Darwin, Perth and Hobart.
There are none at the starting to decline slot either, with Gippsland moving down to a declining market.
“Office markets across the country are wide and varied and given advancements in communications technology, the time had never been better for tenants looking to set up and operate across borders from wherever the most economical space can be found,” say HTW in their report.