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Australia's Office Vacancy Rate Rises Amidst Construction Slowdown
Australia's office vacancy rate edged up to 14.7 percent in January, with Sydney's rate jumping to 12.8 percent and Melbourne's remaining at a high 18 percent; however, rising construction costs and high interest rates are curbing new builds, potentially easing vacancy rates in the future.
Australia's Office Vacancy Rate Rises Amidst Construction Slowdown
Australia's office vacancy rate edged up to 14.7 percent in January, with Sydney's rate jumping to 12.8 percent and Melbourne's remaining at a high 18 percent; however, rising construction costs and high interest rates are curbing new builds, potentially easing vacancy rates in the future.
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