Parramatta. Signs of life returning

Glenn Byers, executive director, Property Council NSW, said signs of life were returning to the office tenancy market in Parramatta. The vacancy rate decreased from 10.8 per cent to 9.6 per cent in the six months to January 2011, with the decrease due solely to positive demand, with net absorption of 8,279 square metres in the past six months. “We saw an increase in demand and a drop in vacancy rates across the A Grade and B Grade markets. The opposite was true in the C and D Grade markets,” he said