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Newcastle Herald

National

Michael Parris

FOUND: Big new buildings push up office vacancy rate - You Need To See This

Newcastle Property Council

NEW STOCK: DOMA's 15,000-square metre Store office building, the largest in Newcastle, opened in 2021. Picture: Max Mason-Hubers

Newly opened buildings have helped almost triple Newcastle's A-grade office vacancy rate in a year, but the Property Council says demand remains strong for high-quality space.

The Property Council of Australia's latest office market report shows Newcastle's A-grade vacancy rate is up from 3.1 to 8.5 per cent since January 2021.

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