Rent growth to accelerate in Brisbane and Perth
After a number of stellar years rents will stabilise in Sydney and Melbourne as new supply starts to filter through. Both markets are set to experience historic increases in levels of supply, however, strong demand will temper vacancy rises. Perth, Brisbane and Adelaide have more muted supply growth in 2020, which coupled with economic activity improving will result in stronger rent growth. Pricing levels are at historic highs for offices, yet the low cost of debt and strong investor appetite is likely to lead to further yield compression in 2020, particularly if there is another interest rate cut.
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