Industrial vacancy rates rose for the first time in five years in the second half of 2023 and are expected to climb higher in 2024 due to a combination of weaker demand and more warehouse supply coming online in most markets, according to a report by CBRE.
The average national vacancy rate rose to 1.1 per cent, from 0.6 per cent over the first half of the year. Rents are likely to rise in 2024, albeit at a much more moderate pace.
(source : AFR)
Industrial vacancy rates rose for the first time in five years...
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