Highlights The vacancy rate has increased to around 7.5%, which is a six year high. This is mainly attributed to new supply (second highest level in 15 years), and associated backfill space vacated, particularly in the Outer East (12.70%) and South East (11.20%). Other factors; tenant consolidations and relocations. Around 90,400m2 of new office space was completed in 2015 (second highest level on record). This is underpinned by the Australian Taxation Office (Box Hill), Sout