Research
Australian Office Market Overview 3Q22
3Q22 statistics on the national Australia Office markets
November 04, 2022
Contributors:
- Andrew Ballantyne
- Paul Chapko
Australian CBD office market demand recorded a strong rebound over 3Q22, totalling 52,400 sqm of net absorption. Five of the six tracked CBD markets recorded positive demand. The Canberra market had the strongest quarterly result (36,200 sqm) driven by the expansion of the government sector into new office space.Face rents continue to record stable growth across the CBD markets. Some CBD markets recorded a minor upward trend in incentives as a result of elevated vacancy rates in the markets.
