Property Forecasting > Report

Melbourne’s Near City and Suburban Office Markets 2019 – 2029

Melbourne’s Near City and Suburban office markets have recorded stellar growth in recent years. H1 2019 data confirms continued growth in rental and investment markets (as expected). Our forecasts remain on track for low vacancy rates to drive robust rental growth to a market peak in 2024. On the investment side, a benign outlook for interest rates – and hence for office market yields – suggests a little more near term firming before a moderate yield softening through the mid to late 2020s. Total returns over the next five years are little changed from previous forecasts; Melbourne’s non-CBD office markets offer some attractive investment opportunities.

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