Brisbane CBD Office Figures Q3 2024

Key Points: 

• Despite strong headline statistics, leasing activity has remained subdued with more renewals and slower decision making.
• There was no supply delivered in Q3, with two projects due by the end of 2025.
• Total vacancy tightens to 9.5%, the lowest level since 2012.
• Prime effective rental growth continued to be strong, up 2.4% q-o-q and 15.3% y-o-y.
• Transaction activity was slow in Q3, although full year volumes should be higher than 2023 levels.
• Office prime yields softened 14bps q-o-q to 6.83%