Report | Evolving Workforces

Australian Office Sublease Barometer March 2023

March 14, 2023

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  • National sublease availability has remained relatively stable over the past 12 months.
  • Sydney and Melbourne observed a slight uptick in sublease in Q1 2023, although remain well below the peaks of 2020 and 2021.
  • The smaller markets have seen the largest declines, with Brisbane, Perth and Adelaide sublease at below 1% of stock.
  • Professional services firms reduced their overall sublease availability over the past 12 months, particularly law firms.
  • The IMT sector observed the largest increase in sublease over the past 12 months.