In this video, Ana Marinkovic, Chief Operating Officer of Opteon takes us through the key findings of The Australian Property Institute-Opteon Office Market Outlook, including:
- Sydney and Melbourne will enjoy further rental growth largely driven by short stock supply
- In Melbourne, effective rents could rise by as much as 12% across prime grade assets,
- Sydney’s average net face rents are forecast to grow about 7% across all grades in 2018
- In WA and QLD, office investments remain very attractive, given the low vacancy rates on average, driven by more demand than expected
- Perth market in particular would continue to present counter-cyclical opportunities for investors
- Incentives appear to have stabilised, sitting broadly in the range of 40% to 50% net, with landlords still deploying these to attract tenants to the CBD
Check out the video link above for more on Australia’s Office market.