We are pleased to launch our latest Perth Office Briefing Spotlight report. In this edition, we look at the strength of Western Australia’s economy when compared to other states, demand for office space, and the implications for leasing and investment markets.

Key takeaways from the report:

• Demand for office space is broad-based across the Perth CBD, underpinned by strong economic growth and tight labour market conditions.

• The overall CBD vacancy rate declined marginally over the six months to January with solid net absorption being mostly offset by positive net supply.

• Demand for office space and high inflation have driven stronger face rental growth, while declining incentives are leading to higher effective rents.

• The increase in cost of debt and uncertainty over the outlook for interest rates has seen investment activity remain subdued over the past 12 months, while office yields have softened.

Read our May 2023 Perth Office Spotlight here…