RESIDENTIAL PROPERTY
THE office market is holding strong against a weakened economy, with a major reduction in sublease availability over the second quarter...
According to JLL Research’s latest Q2 2024 national office market data, positive net absorption of 7,700sqm was recorded over the quarter with a cumulative 41,100sqm recorded over...
Sublease availability has fallen from 1.92% of total stock at the start of the year to 1.59% at the end of June, with 91,300 sqm less sublease availability across office markets...
This as recent data from Re-Leased found national office lease lengths are stabilising for the first time since 2019, at around 30 months for two consecutive years...
The quality story in the Australian office sector is well-articulated – we continue to see positive enquiry and activity for prime grade assets, while the secondary grade market is...
We also recorded a significant reduction in sublease availability across most office markets – a positive sign that large organisations believe their current footprint is appropriate for...
The Sydney CBD recorded net absorption of 10,000sqm over the quarter. With prime net absorption at 90,600sqm over the first half of 2024, while absorption was negative for...
According to CBRE, the supply of sublease space in the Sydney CBD has stabilised at its lowest level since the onset of the COVID-19 pandemic, with 80,088sqm available at...
Large sublease additions also slowed in the Sydney CBD in 2024, with only three new lots larger than 1,000sqm added to the market in the second quarter...
The Brisbane CBD recorded its ninth quarter in a row of positive net absorption at 6,900sqm, with headline vacancy down to 10.3% and prime grade to 8.4%...
Over the 2023/24 financial year, the Adelaide CBD recorded 54,800 of net absorption, up 4.5x on the 30-year average of 12,100sqm...
The Melbourne CBD recorded a net absorption loss of 26,600sqm over the quarter, with the vacancy rate increasing to 19.6%, or its highest level since 1995...
Finally, Canberra’s net absorption was largely flat over the quarter, at negative 1,300sqm, with vacancy also steady at 8.9%...
Of the 4,100 office buildings tracked by JLL Research in Australia around 15% have an occupancy rate under 70% but hold almost 60% of total market vacancy...