According to the Property Council of Australia, Brisbane’s office market vacancy and capital value rates have remained relatively steady since Q1 of 2017.
Demand for space is positive however it has taken a downturn from the long-term historic averages for Brisbane. Brisbane property investment remains strong thanks to attractive net face rents fixed with high yields.
The CBD office market continues to be one of the country’s best performing CBD markets in recent years, however recent figures show Brisbane CBD with a vacancy rate of 15.7%, up from 15.3% in March.
For the fringe, according to the latest figures from the Property Council of Australia, there was an increase in the overall vacancy rate from 12.6% to 14.4%within the fringe market over the last 12 months.
The suburban market has seen many tenant relocations, particularly within recently constructed buildings with only limited take-up of existing space.