Experts point to empty offices for extra housing supply as new builds stall

Commercial office approvals have hit a long-term high in Sydney, pushing new residential builds down the waiting list. 👇

Ray White Commercial agent John Skufris said that the increase in leasing transactions coincided with an increase in migration to the major cities.

“Most of the incoming tenants already had campuses in other states and cities and secured leased premises with existing fit outs, some furnishings and natural light on multiple sides.” Philip Oldfield is an associate professor from UNSW’s School of Built Environment and said office-to-residential conversions come with challenges.

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