Property Forecasting > Report
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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