Property Forecasting > Report
We maintain our view that the upswing in the Sydney CBD office market has a few years to run, reaching a peak in 2023. However, it won’t be smooth sailing until then. Softer net absorption this year is expected to extend into 2020. With new supply coming on, we anticipate a spike in the CBD vacancy rate to close to 6%. The market should recover quickly through 2021 and 2022 thanks to stronger employment growth and the release of pent-up demand – but we flag downside risks should these drivers disappoint.
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