Australian Office Sublease Barometer June 2023

Key Points:

• National sublease availability increased moderately in Q2 2023,  rising by 1,500 sqm to 1.6% of total stock.
• Smaller markets have been more resilient, while Sydney and Melbourne remain above 2.0% of stock.
• Professional services firms offering less space for sublease over the past 12 months.
• Off the back of headwinds for the sector, technology firms have increased their sublease availability.