Outlook 2023 Australia

BRISBANE

DEMAND & VACANCY

NET ABSORPTION (SQM) AND VACANCY RATE (%)

FORECAST

16.0%

60,000

 Following a contraction in office demand in 2020, it is estimated the Brisbane CBD will see an additional 26,500 new office employees over the next decade, requiring roughly 265,000 sqm of office floorspace.  Positive demand and limited supply, suggests vacancy will drift lower.

15.5%

50,000

15.0%

40,000

14.5%

30,000

14.0%

20,000

13.5%

10,000

13.0%

0

12.5%

-10,000

12.0%

-20,000

11.5%

2020

2021

2022F 2023F 2024F 2025F 2026F Net Absorption Vacancy Rate

Source: Cushman & Wakefield