If there was one glimmer of light in the beleaguered office market, it was the momentum seen in the suburbs since the pandemic. Last year Colliers reported that vacancies in CBD offices were far higher than suburban offices, a marked pivot from earlier years. It did acknowledge that the rise in CBD vacancies was “probably a temporary trend, not a structural market shift,” and that “the amenities of CBDs and urban cores should eventually lure back occupiers.

“Until this demand rebounds, it won’t be clear whether suburban outperformance is temporary,” it said.


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