Perth much healthier than ‘sister’ oil & gas cities

Here is another example of framing a news story.

Today’s headline is;

“Perth office vacancy highest in nation”

August 4, 2022 –  Perth’s office vacancy rate has grown to 15.8 per cent in the past six months, up 0.8 per cent since January…6 months earlier, the news was that vacancy rates had fallen.

3 Feb 2022 — Perth’s CBD office vacancy rate has fallen to 15 per cent. Perth’s CBD office vacancy has fallen in the past six months but is the second …and previously we read;

5 Aug 2021 — Vacancy rates also improved across Perth office markets…

1 June 2021 — The real Perth CBD office vacancy rate is closer to 15% when the level of static vacancy and buildings which are about to be withdrawn from ..
Does 15% or 15.8% really matter.

It’s a real shame that news stories don’t continue to elaborate that Perth has the nations highest proportion of C & D grade buildings which doesn’t help the numbers when reporting on “prime CBD properties”.

I’d like to see what the vacancy rates are for Class A & B buildings.

In July 2021, I wrote this note as Calgary saw office vacancy rates hit 24%.

Today, Calgary’s CBD vacancy rate is in the vicinity of 32%, while Houston’s is 24%.

We love a good headline in Australia.

A little perspective is also good.

August 4, 2022

by Rob Zdravevski

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