Property Council Chief Executive Mike Zorbas said over 220,000sqm of new supply was added to our cities in the last six months, just below the historical average of over 237,000sqm.
“We have continued to see the supply of new office space above or near the historical average, providing access to a wealth of new, high-quality office space in our cities,” Mr Zorbas said.
“Vacancy levels continue to be driven by this large level of supply, as demand has remained positive.
“Over the last three and a half years, positive demand for office space in our CBDs has been recorded in five of the last seven reporting periods. Sydney, Perth, Adelaide and Canberra saw positive demand for office space above their historical averages in the last six months.
“High levels of supply show that businesses still call our CBDs home as they balance flexible working arrangements with face-to-face contact in the office.”- January 2025
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Canberra Office Market: Strong Supply Pipeline Highlights Growth Potential
The Canberra office market maintained its position as one of the tightest capital city markets, with a vacancy rate of 9.2 per cent, down from 9.5 per cent over the six months to January 2025, according to the latest Property Council of Australia Office Market Report.
Office vacancy rate remains steady as demand stays positive
Vacancy rates in our cities’ office buildings remained steady over the last six months as the supply of new space neared the long-running historical average.
Newcastle Office Market Star Performer in 2024
The Newcastle office market has been one of the star performers nationally over the past year, with a significant decrease in vacancy rates driven by strong tenant demand, according to the latest Property Council of Australia Office Market Report for January 2025.
Parramatta office market: positive signs amid mixed performance
Parramatta’s office market recorded a slight rise in vacancy rates over the six months to January 2025, reflecting the impact of new supply additions and a challenging demand environment, according to the latest Property Council of Australia Office Market Report.
Flight to quality shapes Sydney’s office markets
The Sydney CBD office market experienced an increase in vacancy rates in the six months to January 2025, largely due to significant new supply entering the market, while non-CBD markets showed mixed results, according to the latest Property Council of Australia Office Market Report.
Melbourne’s CBD vacancy continues to be worst in the nation
The vacancy rate in Melbourne offices continues to be the highest in the country, according to new data from the Property Council of Australia.
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