Brisbane CBD Office Figures Q4 2024

Key Points:

• Queensland economy boosted by Government spending in the lead up to the state election in 2024
• There was no supply delivered in Q4, with two projects due by the end of 2025.
• Net absorption turns negative to -12,646 sqm in H2 2024
• Total vacancy increases slightly to 10.2%
• Prime effective rental growth continued to grow, up 3.8% q-o-q and 13.8% y-o-y.
• Transaction volumes were up 54% in 2024, although still well below long-term averages
• Office prime yields softened 23bps q-o-q to 7.06%