Vacancy rates in Melbourne have fallen to their lowest level since the end of COVID restrictions.
Melbourne 's CBD is in its best economic state since the pandemic, as new figures reveal vacancy rates are at its lowest level since the end of Covid restrictions.Vacancy rates in Melbourne have fallen to their lowest level since the end of COVID restrictions.
According to new data by real estate and property development firm CBRE, retail vacancy rates in the CBD have fallen to 5.5 per cent as businesses come back to the centre of Melbourne. MELBOURNE, AUSTRALIA Figures by property firm CBRE have revealed a bounce back in retail activity Generic images around the Melbourne CBD, but some areas of the city are not doing so well. Picture: People crossing Collins Street in Melbourne CBD, 2024, NCA NewsWire / Ian Currie Melbourne Lord Mayor Nicolas Reece welcomed the figures, proclaiming “Our streets are alive, the retail renaissance is underway and it's a really exciting time for Melbourne." The CBRE said it was a healthy first quarter of 2025 for Victorian retail, with a 1.9 per cent up tick across the three months from January to May. Landlords are becoming more confident too, according to the report, with an indicator being the near arrival of a large Mecca cosmetics store in Bourke Street. Not all areas of the city are preforming well, with the Docklands lagging behind. Lord Mayor Nicholas Reece acknowledged this, saying"Docklands has been slower to come back than other parts of the city but the trajectory is really positive."
Victoria Victoria Retail Docklands Melbourne CBD CBRE Melbourne
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