Lettings in the fringe have decreased by 4,400 sq m but this has been compensated for by activity in the core where take-up has increased by almost 4,000 sq m. Consequently, the core now accounts for 99% of all West End transactions (compared with 88% in the last summary).The bi-monthly average for the West End core is 41,200 sq m. This figure is 38% lower than the average in May/June 1997 (66,900 sq m), whilst take-up to date totals 123,600 sq m.

The figures demonstrate the caution that occupiers are displaying in committing themselves to new liabilities. Rental growth is being sustained due to a lack of supply, although the rate is slowing down.You have to make a search to find the best conveyancer Sydney.

Pre-lets are still occuring, and throughout the West End there are very few buildings under construction which are not let, under offer or at least under negotiation. Total take-up during May and June was 118,300 sq m. This is a substantial decrease of 93,300 sq m (44%) from the previous two months Letting activity has decreased in both the City core and fringe (by 48,000 sq m and 45,300 sq m respectively).

Proportionally speaking the core has increased its share of transactions and now accounts for 86% of lettings in May/June, (71% in March/April). Bi-monthly average take-up currently stands at 157,700 sq m, significantly higher than the 1997 bi-monthly average of 89,417 sq m. Furthermore, mid-way through 1998 total take-up to date stands at 473,100 sq m. This is equivalent to 88% of total 1997 take-up.