Research

Australian Office Market Overview Q1 2024

National market statistics

May 08, 2024
Contributors:
  • Andrew Ballantyne
  • Paul Chapko

Australia's CBD net absorption rebounded over the quarter, totalling +33,300 sqm with five out of six of Australia’s CBD markets recorded positive demand. However, despite the positive result, the national CBD vacancy rate remained flat at 14.7% over Q1 2024 driven by backfill vacancy from the completion of new office stock.

Tenants are gravitating towards high quality prime stock in desirable locations which is supporting rent growth in these types of assets.

Fill out this form to download report

There was an error submitting the form. Please try again. 

PRIVACY NOTICE

Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

Generally, the personal information we collect from you are for the purposes of downloading materials you have requested.

We endeavour to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our privacy statement.

You may also like

Australia | Investor | September 10, 2024

Flex Strategy 101

Discover how flex can transform your office portfolio strategy

Global | Workplace | September 09, 2024

Evolving corporate real estate to add value

Global | Workplace | September 09, 2024

The Future of Work Survey 2024

A more fragmented world of work creating new requirements for corporate real estate