A strong performing CBD and demand for buildings in the Parliamentary Precinct are behind Canberra increasing liveability status, according to Colliers International.

The region enjoys the lowest unemployment rate in the country and also has the highest median income. 

At a glance: 

• According to the Property Council of Australia, office vacancy in Canberra’s Parliamentary Precinct is sitting at just 0.4 per cent.
• The vacancy rate in the city centre stands at just 1.7 per cent, according to Colliers International research.
• The ACT has the lowest unemployment rate in the country, as well as the highest median income.

Colliers International Director Office Leasing, Michael Ceacis told WILLIAMS MEDIA that Canberra's low residential and commercial vacancy rates were driving its appeal. 

“Location is always a key driver in the ACT. The CBD is performing strongly and demand for buildings in the Parliamentary Precinct continues to be high," he said.

"According to the Property Council of Australia, office vacancy in Canberra’s Parliamentary Precinct is sitting at just 0.4 per cent.

An aerial view of Canberra. Source: Colliers International

"We currently have the lowest CBD A-Grade office vacancy rates in the nation.

"The vacancy rate in the city centre stands at just 1.7 per cent, according to Colliers International research, and we predict it will fall even further by the end of the year.”

One of the largest employers in the ACT is the Australian Public Service (APS), with nearly 40 per cent of the APS located in Canberra.

With a key Commonwealth objective being to modernise public sector workplaces so they can adapt quickly to changing operational needs, Mr Ceasis said government demand for office space was ongoing. 

“This was highlighted recently when the Department of Health extended its current tenancy in the Mirvac-owned Sirius office building in Woden until 2035.

"The building will be renovated over time to include more flexible workspaces. 

“Canberra’s popularity does not look like waning any time soon."

Similar to this: 

Rupert right at home in Colliers' Canberra office

Chris follows Canberra commercial calling

$22.1M Canberra development site