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Newcastle Herald
Newcastle Herald
Business
Sage Swinton

Why Newcastle office vacancy rates are rising

Newcastle Anita Hugo Property Council of Australia
Construction of 727 HQ on Hunter Street is almost complete. The building will provide almost 14,000 square metres of commercial space. Picture supplied

Office vacancies across Newcastle have risen to 11.7 per cent in the past 12 months, but remain below the Australian average.

Total vacancy increased from 10.8 per cent to 11.7 per cent in the year to January 2023, according to Property Council of Australia's latest Office Market Report. This was below the Australian vacancy rate of 13.3 per cent.

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