The business services economy has continued to outperform without being affected by the softness in Australia's macroeconomic setting as operating conditions benefit from a combination of subdued input prices (weak wages growth, lower interest rates), a low Australian dollar and solid growth in government spending. Even so, Australian CBD office net absorption slowed in 2019 which has been constrained by limited office supply.
The demands for office spaces remained high in Sydney and Melbourne area despite lack of supply due to tightened markets and soft net absorption. After hitting historical vacancy lows, a new tide of supply is turning upon the completion of the approaching office development pipeline.
Article and image source: Investa Inside: Office Market Outlook, November 2019
Ray White’s top 10 listings for November: (Click on the address to view listing)
Suite 701, 111 Elizabeth Street SYDNEY
Level 3, 48 Hunter Street SYDNEY
Suite 603, 2 Barrack Street SYDNEY
Level 8/27 Macquarie Place SYDNEY
Suite 302/46 Market Street SYDNEY
Suite 2, 185 Gloucester Street SYDNEY
Suite 704, 1 Margaret Street SYDNEY
Level 1, 27 Macquarie Place SYDNEY
Whole floor, 283 Clarence Street SYDNEY
Level 3, 213 Clarence Street SYDNEY