Property Forecasting > Report

Sydney Suburban Centres and Office Parks 2021 - 2031

​Vacancy rates remain elevated in Sydney’s non-CBD office markets with no clear change during H2. Leasing incentives continue to edge higher, triggering modest effective rent falls in most areas. Barring another surprise setback, the worst is over; we expect vacancy rates to peak and rents to trough mid to late next year. The subsequent gradual recovery in vacancy rates will underpin a strong rebound in effective rents. With little further yield firming to come to boost values, five-year IRRs are moderate.

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