Scott O'Neill

And that's where things like the e-commerce boom, which marches on year after year, is something to consider what types of properties will benefit from that.

It's almost like investing in stocks, commercial property.

You've got to really think in terms of what businesses are going to do well.

And that's where the opportunity is.

And the risk can be high, but the reward is certainly higher as well.

The answer to your question, there is, but there isn't been a large discount in square meter rates in Perth.

Because interest rates are so low and office space is generally an area where you see a lot of institutional level investors play in.

So, fund managers, large syndicates, you know, these are the guys buying up the whole office towers.

they haven't been selling for discounts.

So we've seen square metre rates barely drop.

If anything, there's been many markets over there, despite the huge vacancies they're having in those markets, increase in value.

And like last time I checked last month, the vacancy rate of Perth was about one in seven buildings, one in eight buildings.

offices, rather, were vacant.

So it's a very high vacancy rate.

So if you can deal with the short-term leasing risk, yeah, there's probably some good buying to be had.

But you've really got to be buying the right type of building.

And there's no free rides in this market.

You'd know that from residential.

Even the worst markets out there are still holding up in value because of low interest rates.

And just there's a lot of exuberance out there at the moment where there's, yeah, people will buy anything if they can.