Australia National Office Market Overview 4Q20
4Q20 statistics on the national Australia Office markets.
The economic impacts associated with COVID-19 continue to dampen demand for office space, with occupiers contracting or subleasing space, placing upward pressure on vacancy rates. Face rents broadly held firm, although incentives increased, to vary degrees, which negatively impacted effective rents.
Investment activity continued to improve in the final quarter with investment volumes reaching AUD 3,187.1 million across 27 sales in 4Q20. This brings the year to date (YTD) total to AUD 9,101.9 million which is the lowest year of investment activity since 2011.