2026-07-10-莱坊-Perth_Office_State_of_the_Market_Report_Q2_2026_2页_731kb
报告摘要
Perth CBD Office Market Summary - Q2 2026
Core Market Overview
The Perth CBD office market has seen a significant development in Q2 2026, with the first major office sale since 2024. This highlights a potential shift in market dynamics and renewed investor interest in the sector.
Key Indicators
| Metric | Value ($/sqm) | Qtr Change (%) | Annual Change (%) |
|---|---|---|---|
| Net Face Rent (Prime) | 749 | 1.7 | 2.8 |
| Net Effective Rent (Prime) | 397 | - | - |
| Net Incentive (Prime) | 47.0% | 1.7 | 2.4 |
| Core Market Yield (Prime) | 7.90% | - | - |
| Vacancy Rate (Prime) | 15.6% | - | - |
| Stock (Prime) | 1,195,854 sqm | - | - |
| Metric | Value ($/sqm) | Qtr Change (%) | Annual Change (%) |
|---|---|---|---|
| Net Face Rent (Secondary) | 473 | 0.0 | 0.0 |
| Net Effective Rent (Secondary) | 236 | - | - |
| Net Incentive (Secondary) | 50.0% | 2.4 | 0.0 |
| Core Market Yield (Secondary) | 8.95% | - | - |
| Vacancy Rate (Secondary) | 19.2% | - | - |
| Stock (Secondary) | 647,994 sqm | - | - |
Investment Activity
- Investment volumes in 2026 have already exceeded the previous two full years, indicating a strong market performance.
- Total investment volume year to date is $161.2 million, across three building sales in the Perth CBD office market.
Recent Significant Sales
| Property | Price ($m) | NLA (sqm) | Cap Value ($/sqm) | Type | Yield (%) | WALE (years) | Purchaser | Vendor | Sale Date |
|---|---|---|---|---|---|---|---|---|---|
| 1 Nash Street | 79.4 | 12,362 | 6.422 | Investment | 8.3 | 5.5 | Castlerock | CorVal | May-26 |
| KS3, 10 Telethon Avenue | 72.3 | 9,185 | 7,872 | Owner Occupier | ^ | ^ | EC University | Dexus | May-26 |
| 178 St Georges Terrace | 9.5 | 3,207 | 2,962 | Conversion | # | # | SKS Group | Private | Jan-26 |
| 66 St Georges Terrace | 75.0 | 11,254 | 6,664 | Investment | 8.2 | 3.3 | Oceania Capital | RF CorVal | Oct-24 |
- ^ indicates the property was sold to be converted
- # indicates owner occupier acquisition
Development Pipeline
- CBD office development remains subdued, with no new supply expected until 2030.
- Current development projects include:
| Address | Developer | Committed (%) | NLA (sqm) | Status | Due Date |
|---|---|---|---|---|---|
| 15 The Esplanade | Brookfield | 100.0 (under offer) | 53,000 | DA Approved | 2030 |
| Lot 4 Elizabeth Quay | AAIG | 0.0 | 60,000 | Planning | 2030+ |
Economic Indicators (2023–2026)
| Metric | 2023 | 2024 | 2025 | 2026 (f) | 2027 (f) | 2028 (f) | 2029 (f) |
|---|---|---|---|---|---|---|---|
| Annual GSP Growth (%) | 1.89 | 1.29 | 1.81 | 1.22 | 1.99 | 2.04 | 2.08 |
| Annual Population Growth (%) | 3.39 | 2.91 | 2.20 | 1.93 | 1.68 | 1.58 | 1.57 |
| Unemployment Rate (%) | 3.66 | 3.69 | 4.00 | 4.26 | 4.57 | 4.41 | 4.16 |
| Metric | 2023 | 2024 | 2025 | 2026 (f) | 2027 (f) | 2028 (f) | 2029 (f) |
|---|---|---|---|---|---|---|---|
| CPI Inflation (%) | 4.05 | 2.42 | 3.65 | 4.33 | 2.44 | 2.35 | 2.57 |
| Cash Rate (%) | 4.35 | 4.25 | 3.60 | 4.35 | 4.10 | 3.60 | 3.35 |
| 10-year Government Bond Yield (%) | 3.96 | 4.48 | 4.76 | 5.01 | 4.88 | 4.34 | 4.28 |
Contact Information
-
Research & Consulting
Laurence Panozzo
+61 401 251 875
laurence.panozzo@au.knightfrank.com -
Managing Director, WA
Jeremy Robotham
jeremy.robotham@au.knightfrank.com
+61 407 381 471 -
Tenant Representation, WA
Alyson Martinovich
+61 459 696 098
alyson.martinovich@au.knightfrank.com -
Office Leasing, WA
Ian Edwards
+61 418 917 019
ian.edwards@au.knightfrank.com -
Valuations & Advisory, WA
Cameron Thomson
cameron.thomson@au.knightfrank.com
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