Adelaide CBD Office Figures Q2 2026

Key Points:

• Total enquiry volume (sqm) of c.90,000 sqm was recorded across Adelaide’s office market during 2Q26, increasing 35% from a year earlier and signalling ongoing strong tenant demand.
• Net absorption for 1H26 totalled -9,224 sqm, which is expected to improve to c.15,000-20,000 sqm in 2H26 as a number of new large CBD entrants and expanding tenant deals are included.
• The Adelaide CBD overall vacancy rate sits at 16.3% as of July 2026, increasing by 0.8 percentage points from the prior half.
• The Market Square development was added to the stock (20,000 sqm), most of which was offset by the withdrawal of 77 Grenfell Street.
• Prime gross rents have increased around 0.4% q-o-q and 1% y-o-y to an average $656 per sqm. Prime incentives remained stable q-o-q averaging 35% and are down 0.5 percentage points y-o-y.
• Investment transaction volumes totalled c.$155 million across Adelaide’s office market over 1H26 with greater clarity around the future path of interest rates expected to improve activity.  
• Midpoint yields increased marginally q-o-q with prime yields sitting at 7.8% and secondary at 9.5%.