Australian Office Market Overview 4Q22
4Q22 statistics on the national Australia Office markets
- Andrew Ballantyne
- Paul Chapko
Australian CBD office net absorption totalled 32,100 sqm over 4Q22, Four out of six tracked CBD markets recorded positive demand over the quarter. Despite the positive demand result, the Australian CBD vacancy rate marginally increased to 14.2%, driven by new office completions.
Weighted Australian CBD prime gross effective rents recorded a fourth consecutive quarter of positive growth, driven by an uplift in face rents.