Office space anyone?

It seems that accessing office space is gradually getting a little easier, with vacancy rates going up in CBD and non-CBD offices around Australia.

There's also expected to be an extra 670 000 square metres of office space becoming available in the second half of 2008, and more again next year and so on!

What does this mean for business?

It means more bargaining power when negotiating for office space; less expensive access to office space (as supply has gone up, demand has not necessarily equalled it); and the potential for incentives offered by landlords, to either get their tenants to stay, or to help them move to new office space (which can be quite expensive).