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Despite a weakening economy the outlook for the nation’s office markets remains strong.
According to the latest Colliers International CBD Office Market Indicators Report released yesterday, strong property market fundamentals will keep the sector durable throughout the economic slowdown.
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Even though businesses are reducing staff numbers, Colliers said the same economic drivers causing job losses were limiting new stock and thus minimising vacancies and rents.
Vacancy rates are rising but off record lows and remain health; Perth retains the lowest vacancy rate off 1.3 per cent.
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