Report | Creating Resilience

Australian CBD Retail Vacancy H1 2023

August 10, 2023 10 Minute Read


Looking for a PDF of this content?

  • CBD retail vacancy in Australia, as surveyed by CBRE Research is 15.0% (weighted) as of H1 2023. This represents a +112bps softening from the previous figure of 13.9% recorded in H2 2022.
  • Of the five capital cities underlined in report, Melbourne emerged with the lowest vacancy in the country at 10.7%
  • Sydney saw a 249bps increase to 10.8%. Brisbane also recorded a softening this half, now totalling 19.5%. Adelaide (12.4%) and Perth (25.4%); were the only cities to record contractions.
  • Overall, vacancy has softened nationally, coming off seasonal highs of last half and slower spending.
  • Office occupancy and return of tourism and international students has seen a large growth over the last year, increasing visitation.