Australia Office Sector Trends H1 2022

Following CBRE’s Office Sector Trends 2022 report provides insights regarding behaviours and trends within the office market throughout 2021, using a combination of data from Property Council Australia and proprietary CBRE Research. The report examines occupier trends such as leasing activity, net absorption, expansion and contraction, as well as analysing the performance across industries.

Key highlights:

• Nationally, there was a significant improvement in net tenant movement, and the amount of contraction across all markets declined by 14% in 2021.

• Australian net tenant movements rebounded to be 109,800sqm in 2021 compared to -91,853sqm in 2020. This enabled sublease availability to decline by 19.4% throughout 2021.

• Smaller occupier movements were highly active and drove net absorption, contributing approximately 134,000sqm. This compares to larger occupiers, who only expanded by 76,000sqm.

• The biggest rebound in net absorption was from Professional Service sector occupiers, followed by the Education and Training, and Mining sectors.