Canberra CBD Office Figures Q2 2026

Key Points:

• CBRE received 34 leasing enquiries totalling c.11,100 sqm in the second quarter. This marked a decline of -47.3% quarter-over-quarter and a decline of -81.1% compared to Q2 2025. 
• Canberra’s overall office vacancy rate increased substantially in H1 2026, ending the period at 14.7%. The increase was due almost entirely to negative net absorption in the Civic precinct. This submarket has been severely impacted by consolidation and contraction by larger groups upon lease expiry and migration by some firms into new stock in nearby geographies.
• The first half of 2026 saw the delivery of c.52,944 sqm of new office space to Canberra.
• Despite the sudden increase to vacancy rates seen in H1 2026, the introduction of new stock over recent years and the continued migration into higher quality properties has allowed the market to avoid significant Prime rental rate declines in Q2 2026.
• The investment market has remained muted over H1 2026 with only three transactions totalling AUD 38.8 million closing over the half.