Australian Office Market Overview 3Q21

3Q21 statistics on the national Australia Office markets.

November 08, 2021

National office demand was strong over the quarter with five of the six CBD office markets recording positive net absorption despite the extended lockdowns in NSW, VIC and the ACT over 3Q21. The national CBD vacancy rate remained broadly unchanged over the quarter (14.1%) as uncommitted space in new office completions as well as backfill vacancy offset positive net absorption. Effective rents declined this quarter as elevated vacancy rates place upward pressure on incentives. 

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