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Investors breathe sigh of relief as CBD office markets stabilise

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Statistics released by

Jones Lang LaSalle Research show that commercial office market conditions stabilised in Q3-2013, with CBD office markets recording the first quarter of positive net absorption since the final quarter of 2012.


Despite the national CBD office market vacancy rate increasing to 11.3% - the highest level since 1999 - Jones Lang LaSalle recorded positive net absorption of 12,500 sqm across CBD office markets over the quarter.


Jones Lang LaSalle’s Head of Office Leasing, Australia & NSW, Tim O’Connor said, "Business confidence has rebounded post the Federal Election. Stronger business confidence has stymied the rise in sub-lease availability."
Australia's capital cities recorded the following net absorption levels:

  • Canberra +30,400 sqm
  • Melbourne +23,300 sqm
  • Sydney +0 sqm
  • Perth (24,500 sqm)
  • Brisbane (12,800 sqm)
  • Adelaide (-3,400 sqm)
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Article originally posted at: https://https://theurbandeveloper.com/articles/investors-fund-managers-breathe-sigh-of-relief-as-cbd-office-markets-stabilise-in-q3-13