Australian Office Market Overview Q2 2023

National market statistics

August 03, 2023
  • Andrew Ballantyne
  • Paul Chapko

Four out of six of Australia’s CBD markets recorded positive net absorption over Q2 2023. Australia's CBD net absorption totalled 13,400 sqm over the quarter. Despite the positive quarterly demand result, the national CBD vacancy rate increased marginally from 14.3% in Q1 2023 to 14.4% in Q2 2023 driven by the completion of new office stock

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