We are pleased to launch our latest Office Briefing Spotlight report. In this edition, we provide an overview of recent macro developments, and investment and leasing market trends for the major CBD office markets in Australia.

Key takeaways from the report:

• Globally, major central banks have moved to ease monetary policy, but stronger than expected labour market conditions will keep the RBA on hold until mid-2025.
• Investment volume declined by 13% in Q3 following an active Q2. While investment activity is materially higher than 2023 lows, it remains well below average levels.
• Sydney remains a focal point for capital, with the city accounting for 63% of office acquisitions over the year to date, up from a 10-year average of 49%.
• Office property pricing is showing some signs of stabilisation, with capital growth declining at a slower rate. 
• Occupier market conditions remain mixed across the country, with a pick-up in leasing activity in Adelaide and Perth, relatively strong rental growth in Brisbane, and a widening gap between premium and A grade rents in Melbourne.  

Read our November 2024 Spotlight here