Perth's CBD office vacancy has risen to the second highest of all capital cities in the first half of 2025, the latest Property Council of Australia's Office Market Report has found.
Office vacancy has risen from 15.1 per cent in January to 17 per cent in July across the Perth CBD market which is now only lower than Melbourne (17.9 per cent).
The increase in vacancy can be attributed to softening demand and an influx of new office space becoming available in Perth's CBD.
The bi-annual Office Market Report does predict a silver lining for Perth's CBD, however, with a negligible amount of new office supply expected to enter the market over the next three years.
Office vacancy is expected to fall during this supply gap period.
Comments attributable to Property Council WA Deputy Executive Director Daevid Anderson:
"The numbers in today's Office Market Report aren't what Perth was hoping for but not entirely unexpected."
"We've seen premium new office stock enter the Perth CBD market over the past six months. That was always going to skew today's figure.
"With WA being the nation's strongest performing economy and new city-changing projects on the horizon, there is a lot to be excited about for Perth's future.
"Now is the time to move for any business or organisation looking to establish a physical presence in the CBD.
"Perth is likely at the peak of its office vacancy rate.
"It will become harder and harder to find office space in the CBD in the coming months."
