Scott O'Neill

They were sort of around 6%, 7%.

vacancy rates and they got into double digits due to COVID.

They're retreating now because people are going back to the office.

There's going to be a future decrease in the vacancy rates too as they let more people in the country.

Immigration is going to push people particularly to Sydney, Melbourne, Brisbane and a lot of them are going to work desk jobs and this is going to squeeze the current market.

The other side is build costs are going up.

So, to supply new buildings, it's going to be more difficult in future.

So, rising population, less building, that's going to contribute to a tighter vacancy rate.

So, the long-term investor who's spending money in office space, they don't look through all these media headlines and saying offices are dead because it's just an overstatement.

And a smart investor knows

that.

And there's also subsectors of the office market that are going very well, like suburban office where people are preferring to work closer to home.

So if anything, vacancy rates have dropped.

So again, there's markets within markets, but overall, that's the reason it's not dropping because you've got a non-desperate seller selling to another long-term investor and they value the investment and they'll pay the proper market value for it.

Yeah, another good question, Craig.

I think it always depends on someone's individual circumstance.

But if you're buying a positively geared asset, that means when you buy it, you are going to be making money each month holding it.

These aren't negatively geared.

So unless you think you're going to get it at a substantially cheaper price in six months' time, that would be the only reason I'd say wait.

But if you've got the money available and ready to go...