Demand for office space in Brisbane’s CBD is at its highest level since 2017, defying bleak predictions for the sector.
The Property Council’s mid-year Office Market Report has reinforced the ongoing confidence in Brisbane’s city centre, and a strong appetite for office spaces where staff can come together to collaborate and generate ideas.
Brisbane CBD’s vacancy rate fell from 15.4 per cent in January 2022 to 14.0 per cent in July 2022, with over 44,000 square metres of net absorption over the six-month period.
Brisbane CBD’s positive demand cumulated in a need for 39,600 square metres. The majority of Brisbane CBD’s positive demand was seen in the Premium grade.
A drop in vacancy was also recorded in Brisbane fringe markets, with overall vacancy falling by 0.6 per cent, from 16.2 per cent in January to 15.6 per cent in July.
There is more information available on how to purchase the latest Office Market Report here.