Our next Eastern Seaboard Industrial Vacancy report indicates low numbers across all capital cities.
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The below snippet was first published by the Australian Financial Review on September 25, 2018. Read the original article here.
“Vacancy rates along the eastern seaboard's industrial property markets are tightening as e-commerce drives demand and speculative building is absorbed, according to Urbis.
Vacancy rates along the eastern seaboard’s industrial property markets are tightening as e-commerce drives demand and speculative building is absorbed, according to Urbis.
In Sydney, the vacancy rate has fallen to 2 per cent, while in Melbourne it is at 3 per cent and 4.2 per cent in Brisbane.
“The volume of speculative development activity that had pushed up vacancy rates has eased,” said the Urbis report, compiled by a team of analysts led by Shane Robb.
“There has been generally strong tenant enquiry for new premises, particularly as automation in warehousing gets genuine traction, resulting in strong recent construction numbers and land absorption.
“Land is now getting tight in many prime industrial locations, particularly for large contiguous lots to accommodate large-format users.”
Read the full Australian Financial Review article here.