Occupancy rates vary in flood recovery

HIGH interest rates and the cost-of-living of living crisis has been attributed to the variation in occupancy rates across the Lismore CBD.

The results have been monitored as one of the measuring sticks as the city continues to rebuild and recover from the floods in 2022.

Businesses throughout the CBD were some of the hardest hit and have an array on ongoing issues.

The latest results showed a drop-off in Conway, Magellan and Woodlark Streets in December compared to June.

However, there has been increases on Carrington, Keen and Molesworth Street.

Conway Street sits at 67 per cent, down from 72.1 percent, while Keen Street now sits at 85 per cent after previously coming in at 81.1 per cent.

Molesworth Street experienced the biggest jump with as 12 per cent increase and is now at 86 per cent capacity.

Lismore City mayor Steve Krieg said the numbers represent the resilience of business owners and a commitment to the future of the region.

“While more work needs to be done to encourage businesses into the CBD, the fact that the rate has remained steady shows our local businesses are committed to Lismore and its recovery,” he said.

“And despite the cost-of-living crisis, local spend across the LGA in December 2024 totalled $111 million, an increase of 4.2 percent from December 2023.”

“Our CBD Activation Team and our Business Activation Team through Council are doing everything they can.

“I think Lismore is primed to experience its footprint again as the regional hub of the Northern Rivers.”

Previous audits were done in in June and January 2023.

There was also one in August 2022, and February 2022, immediately before the February disaster.

A large number of businesses suffered significant losses from the 2017 floods.

The same area of the Lismore CBD has been audited by council staff each over the last eight years.