Australian Office Market Overview 1Q22

1Q22 statistics on the national Australia Office markets.

May 10, 2022

The national CBD office market demand recovery has continued over 1Q22, with positive net absorption recorded for a fourth consecutive quarter. However, this recovery has been patchy on a CBD basis, with positive net absorption recorded in Adelaide, Perth and Canberra over 1Q22.

Weighted national CBD prime effective rents recorded their first increase since 1Q20. This is an indication that effective rents have bottomed out and are in the recovery phase of the cycle.

Australian office investment activity was resilient over 1Q22, totalling AUD 4.38 billion. Approximately 58% (AUD 2.55 billion) of transactions were by offshore groups over the quarter.

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