CBD Office: More than 205,000 square metres (sqm) of new and refurbished space has come online in the Sydney CBD over the course of 2022, all of which has been completed by the end of the third quarter. Roughly 70% of this space is pre-committed.
Metro Office: Rental conditions in Sydney office markets have entered a period of stabilization after a period of weakness caused by the COVID 19 pandemic. Incentives remain elevated but remained broadly unchanged in the first half of 2022. Average face rents have been more or less unchanged since the second half of 2021. Although net effective rents remain below pre COVID levels, on average across Sydney metro markets A grade net effective rents were up 0.4% in Q2 on a year on year (YoY) basis, though B grade net effective rents were down 0.7% on average.
Learn more by clicking our most recent Sydney MarketBeat reports below.