The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
FULL PROGRAM RELEASED FOR URBANITY-25 CONNECTING PROPERTY LEADERS ACROSS THE ASIA PACIFIC
FULL PROGRAM RELEASED FOR URBANITY-25 WHERE THE PROPERTY INDUSTRY CONNECTS
VIEW FULL AGENDADETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
OtherStaff WriterWed 05 Aug 15

Brisbane Office Market Stabilises In First Half Of 2015

B

The Brisbane CBD vacancy rate has decreased slightly to 15% in the six months to July 2015, down from 15.5% in January, according to the Property Council of Australia's latest Office Market Report.

Commenting on the report, Colliers International National Director of Office Leasing Mark McCann said the Brisbane office market had stabilised in the first half of 2015 with both transaction volumes and enquiry up from the previous year.

“The overall vacancy rate is set to decrease slightly for this period and is a result of stock withdrawals for conversions and some positive take-up through leasing activity," Mr McCann said.

"This positive change in the vacancy rate, however, is only temporary, with the overall vacancy expected to spike from 2016 onwards after completion of new developments and associated backfill.

Mr McCann said the secondary market continued to be the most volatile sector in the market due to its historically high vacancy rate, however, recent transactional activity in this sector has steadied the competitive parameters required to secure tenants.

"The IT, education and training sectors have been the largest generators of new tenant demand in the Brisbane CBD for this period," Mr McCann said.

“The prime market vacancy on the other hand has stabilised and this will continue for the balance of 2015. Business confidence is returning with a positive indicator being the reduction of sublease space as a result of anticipated business growth.

“The new development cycle is upon us with construction and completion of 180 Brisbane, 480 Queen Street and 1 William Street all due within the next 12 months.”

The Property Market Office Report is released every six months. It is based upon a comprehensive inventory of all useable office space in over 25 office markets across Australia.

The report database includes details of building names, completion dates, quality grades, net lettable areas (NLA), ownership, and building vacancy on a direct and sublease basis.

OtherOfficeEducationAustraliaSector
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
Exclusive

Paperwork to Plate: The Rise of Brisbane’s Midtown

Taryn Paris
6 Min
Wel Co's Thornhill Park, 40km west of the Melbourne CBD.
Exclusive

Waiting for Victoria: Why Wel.Co says State Planning isn’t Working

Marisa Wikramanayake
6 Min
Woods Bagot Principal Alex Hall and Penny Place Adelaide
Exclusive

Amplified Affordability: Woods Bagot Cracks Housing Cost Code

Leon Della Bosca
8 Min
Goodman Brisbane Industrial EDM
Exclusive

Olympics a ‘Springboard’ for Brisbane’s Industrial Age

Clare Burnett
6 Min
Colliers build-to-rent head Robert Papaleo speaking at The Urban Developer's Build-to-Rent Summit in Melbourne.
Exclusive

Get Creative Before BtR Wellspring Runs Dry, Sector Urged

Marisa Wikramanayake
4 Min
View All >
Mandarin Centre EDM
Retail

Decade On, Mandarin Centre Redevelopment Revealed

Clare Burnett
Cedar Woods Noble Park social housing HERO
Affordable & Social Housing

Cedar Woods Wins Nod for Noble Park Social Housing

Leon Della Bosca
Build-to-Rent

The 10 Biggest BtR Projects Under Construction in 2025

Editorial Desk
As the asset class matures, The Urban Developer reveals the 10 biggest build-to-rent projects (by asset value) under con…
LATEST
Mandarin Centre EDM
Retail

Decade On, Mandarin Centre Redevelopment Revealed

Clare Burnett
4 Min
Cedar Woods Noble Park social housing HERO
Affordable & Social Housing

Cedar Woods Wins Nod for Noble Park Social Housing

Leon Della Bosca
2 Min
Build-to-Rent

The 10 Biggest BtR Projects Under Construction in 2025

Editorial Desk
5 Min
Exclusive

Paperwork to Plate: The Rise of Brisbane’s Midtown

Taryn Paris
6 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/brisbane-office-market-stabilises-first-half-2015