Canberra CBD Office Figures Q4 2025

Key Points:

• CBRE received 169 leasing enquiries totalling 118,405 sqm over 2025. This marked a decline of 33.2% year-over-year.
• While enquiry volumes slowed, leasing activity remained resilient. Canberra’s overall office vacancy rate ended 2025 at 10.2%. This figure represented a decrease of 42 bps over the second half of the year. Prime vacancy rates declined across much of the market.
• c.54,000 sqm of new office space was delivered to the market in 2025. 
• Consistently low vacancy rates, significant increases to outgoings, and the introduction of new stock resulted in gross rental rate growth across Canberra over the last year. Gross rent growth combined with stable incentives led to strong effective rent growth for the market.
• While the Canberra office investment market was muted in 2025, the completion of a large deal in Q4 and stabilizing yield are leading to optimism the market may have bottomed.