Sydney CBD Office Figures Q1 2026

Key Points:

• CBRE received 141 leasing enquiries totaling 125,230 sqm in the Sydney CBD in Q1 2026. This volume of enquiries was an improvement of 22.0% compared to Q1 2025 or an improvement of 122.7% compared to Q4 2025.
• No new office space will be delivered to the Sydney CBD in 2026. Office development is set to slow substantially going forward.
• The overall CBD vacancy rate ended H2 2025 at 13.8%, a slight increase of 7 bps from mid-year 2025.
• Each of the Core, Midtown, Walsh Bay, and Western Corridor precincts recorded strong Prime Net Effective Rent growth over Q1 2026 on the back of steadily increasing Net Face Rents and tightening incentives.
• First quarter investment volumes reached AUD 1.1 billion in the Sydney CBD over Q1 2026. Despite global headwinds, cap rates were held stable this quarter and demand for assets in the CBD remains strong.