Outlook 2023 Australia

BRISBANE

RENT GROWTH

RENT (AUD/SQM/YR) AND RENT GROWTH (% PER ANNUM)

FORECAST

4.0%

540

 Rent growth is expected to return to positive territory in 2022 at 3.5% following a 5.5% decline in 2021.  With no new supply entering the market and declining vacancy, rental growth is forecast to increase by 3.5% in 2023 to reach AUD475 sqm/yr.  After this time, rent growth will likely stabilise and average a little below 3% per annum.

3.0%

520

2.0%

500

1.0%

0.0%

480

-1.0%

460

-2.0%

-3.0%

440

-4.0%

420

-5.0%

400

-6.0%

2020

2021

2022F 2023F 2024F 2025F 2026F AUD/SQM/YR Rent growth (%)

Source: Cushman & Wakefield