Office markets poised for growth, except Sydney: Colliers

Colliers International have released their

Office Research and Forecast Reports

for the first half of 2012.

The international research and broking house expects all Australian capital city office markets excluding Sydney to demonstrate growth over the next two years.

Of all CBD markets nationally, only Sydney CBD is forecast to have a consistent decline in vacancy over the next two years, despite having one of the lowest levels of tenant demand nationally in the past six months.

Perth is poised to be the standout performer with all signed pointing to growth. Perth represents the lowest vacancy nationally and rental growth is now the strongest of all markets. Premium and A-Grade net effective rents increased by in excess of 25%.

Despite record low vacancy rates in many markets, and high levels of demand over the past six months, rental growth in most markets is remaining subdued due to uncertainty regarding the outlook for employment.

Foreign investor activity continues with the majority of office sales in Sydney CBD in 2011 and just under half of sales by volume nationally purchased by offshore parties.

Full reports are available here:

Adelaide - First Half 2012
Brisbane - First Half 2012
Canberra - First Half 2012
Melbourne - First Half 2012
Perth - First Half 2012
Sydney - First Half 2012