North Ryde/Marquarie Park Property Market
The latest Office Market Report produced by the Property Council of Australia was released last week to the industry.
It found that the vacancy rate for office space in North Ryde/Macquarie Park increased from 7.1% to 7.3% in the six months to January 2013.
The Sydney Morning Herald on 9th February (Pg 40) quoted the Property Council NSW Executive Director, Mr Glenn Byrnes as saying the North Ryde/Macquarie Park office market “experienced positive demand in the last six months – with net absorption totalling 15,965 sqm … North Ryde also saw 19,538 sqm of new stock introduced to the market.”
This market shared a common trend with other nearby markets whereby many tenants are moving to better quality premises.