One of the things that we keep on coming across on our poodlewalks in the CBD are the empty shops and offices. They seem to be everywhere we walk. Does that suggest that small business is doing it hard because consumers are not spending?
Some of the signs on the windows say that some of the small businesses are moving out of the CBD to the inner suburb, presumably due to the lower rents. I would think that others would have gone into debt and they have to sell up. The dreams become nightmares. The economy is not booming and the job opportunities are no longer abundant.
However, what I do notice is that the empty shops are not being filled with new tenants. They remain empty for long periods of time. What does that mean for the CBD’s economy? Is it structurally changing? Or are people just hanging on?