Commercial Property Strong in Brisbane

Brisbane’s Commercial Property Market strength is underpinned by its 1.3% vacancy rate. According to data released by Jones Lang LaSalle a pre commitment of 70% of the 145,000 sq meters of commercial space due for completion over the next few months, will provide a strong basis for growth.

Suburbs like Milton, Bowen Hills and South Brisbane and fringe suburbs to the city will provide strong returns for investors. The demand in the city fringe suburbs is being driven by the delay in supply in the city. Larger office blocks are taking longer to build than the smaller suburban office spaces.

It seems at the moment, that, according to some, office space is being taken up even before its finished.

Queensland’s growth is supported by the State Government Infrastructure program, strong population growth and its economic wealth driven by resources and tourism.

John Moore http://www.piaa.asn.au