[fvplayer src=”http://www.australianpropertyjournal.com.au/homesite/wpvideos/2016/August/API-JLL-Property-Prespective-Sydney-Office-Market-Aug2016.mp4″ controlbar=”yes” speed=”buttons”]
IN the Australian Property Institute-JLL Sydney Office Market Property Perspective, JLL’s National Director, Valuations & Advisory – Australia, Richard Lawrie talks about the city’s strong leasing market and recent yield compression in its capital market.
Leasing has tightened over past 12 to 18 months, with withdrawals and solid tenant demand set to keep vacancy rates down, whilst rents have experienced growth in what he describes as a “horses for courses” market.
Yield compression in the capital market is starting to represent and reflect future rental growth, with the strong leasing market translating into higher purchase prices. The recent sale of the 151 Castlereagh Street asset represents a new benchmark for the market at this point in its cycle.
Australian Property Journal
