2025-02-10-莱坊-Brisbane_CBD_Office_State_of_the_Market_Q4_2024_2页_468kb

Summary of Q4-24 Market Performance

Prime gross rent increased by 3.1% in the fourth quarter of 2024, a slight deceleration from the 4.3% quarter-over-quarter growth in Q3, yet sustained strong annual growth at 13.3%. Corporate tenants continue prioritizing lease renewals over relocations, with incentives reducing to 38.75%. Secondary gross face rents edged up 0.4% in Q4, contributing to a 2.7% year-over-year increase, particularly driven by growth in small fitted suites. No new supply materialized in 2024, with the first new developments set for Q1-25, including the phased completion of 205 North Quay. Yields maintained stability in Q4 for both prime and secondary assets. Investor confidence rose in late 2024 due to stabilized yields, prompting increased investment activity and sale completions.