Australia
Smaller occupiers to support Brisbane office demand into 2025
Smaller occupiers to support Brisbane office demand into 2025
These occupiers are expected to expand office space in the near term.
Melbourne adds 69,000sqm of new CBD office supply in Q2
There is a further 73,100sqm of space currently under construction.
Adelaide records 52,700sqm of new office space under construction
The largest project is a 21,700sqm office tower.
Sydney CBD office vacancy rate inches up to 12.2% in H1 2024
Large occupiers are moving outside of the city.
Canberra Grade B office rents up 0.9% in Q2
Meanwhile, Grade A office rents rose by 2% during the quarter.
Australia office completions below 10-year historical average
The new completions in H1 2024 are 56% below the average.
Sydney CBD to see 155,000sqm of new office stock in H2 2024
This will be from three developments slated to complete during the period.
Adelaide Grade A office rents rise by 1% in Q2
Supply constraints will continue to drive rental growth.
Perth office rents grow 2.3% in Q2
Grade A rents increased by 3%.
Brisbane office vacancy rates at a 10-year low of 11.7%
There has been strong absorption in the prime office segment.
Australia prime office rents up 1% in Q2
This is the strongest growth since Q3 2023.
Perth to see 11 new industrial developments by Q3 2024
The new projects will add 91,000sqm of supply to the market.
Sydney retail supply pipeline likely to remain soft
Only 16,700sqm of new retail space was added in Q1.
Melbourne industrial rents to stabilise for the rest of 2024
There are over 900,000sqm of new space under construction.
Sydney industrial leasing demand underperforms 10-year quarterly average
Occupier activity was only 71,200sqm in Q1.
SE Queensland to see 91,000sqm of new retail space this year
Two new neighbourhood centres were completed in Q1 alone.
Melbourne residential supply imbalance to persist over the next few years
Rents are expected to see upward pressure amidst tight supply.
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