Outlook 2023 Australia

MELBOURNE NEW SUPPLY

NEW SUPPLY (SQM)

400,000

 After 550,000 sqm of new and refurbished stock was added over 2020 and 2021 combined, the outlook for new supply in the CBD is comparatively subdued.  Most of the stock expected to enter the market in 2022 is refurbishment, with only Wesley Place in Lonsdale Street to provide a new development, which is fully pre-committed.

FORECAST

350,000

300,000

250,000

200,000

150,000

100,000

50,000

0

2020

2021

2022F

2023F

2024F

2025F

2026F

Source: Cushman & Wakefield