RESEARCH
BRISBANE is set to lead the next growth cycle in office rents, with effective rental growth poised to continue into 2024 on the back of a strong workforce and tenants committing to...
According to Cushman & Wakefield’s Outlook 2024 report shows absorption of CBD office space in 2023 was softer than expected, despite historically strong labour markets...
“CBD office markets remained in a state of transition this year as occupiers grappled with uncertainty. However, underlying population growth and resilient economic outlook are...
“As the backlog of delayed leasing decisions begins to clear, we anticipate stronger tenant demand and rental growth. We predict a continued flight to quality and that net absorption of...
The supply outlook for the Brisbane CBD office market is “relatively benign”, the report said, with a substantial proportion pre-committed, and vacancies – which have been falling...
As a result, Cushman & Wakefield expects the Brisbane CBD to see robust rental growth between 2024 and 2028 – the flight to quality will push average annual premium effective rental...
A quality uplift in the Melbourne CBD following the completion of new buildings is expected to be a major driver of prime-grade rental growth. Given pent-up leasing demand...
Face rents are expected to increase for prime-grade office space as new buildings come online, and older stock is withdrawn. However, incentives are expected to remain...
Net absorption in Sydney’s CBD has been limited, with demand pushed into the first half of 2024 due to delayed decisions. The ongoing flight to quality is expected to support...
Sydney’s effective rental growth is expected to stabilise between 3.5% and 4.5% over the coming years, with premium space setting the pace as incentives trend down...
In the Perth CBD, new supply in 2023 and 2026 will add to a limited stock of premium-grade buildings, likely putting upward pressure on A-grade vacancies as...
Following a period of stable rents and rising incentives, prime effective rents are expected to experience modest annual average growth between 2024 and...