September 2019 – Sydney CBD Office (incl. Strata) Overview

Volumes for the first half of 2019 continue to be robust, recording just over $100million. The overall fundamentals of the Sydney CBD office market remain strong, however the overarching demand levels for purchasing strata stock starting to show signs of wavering.  Lack of quality strata office offerings saw much competition emerge for stock in 2018, however the continued limited availability on the market this year has kept prices growing albeit with less urgency by buyers. Reductions in interest rates should further stimulate this market, however the continued difficulty in obtaining finance has slowed the pace of buyers acting. While this has not affected the overall increase in capital values, which has grown 14.02% compared to 2018 annual results to average $13,900/sqm (on an adjusted basis) it highlights a shift in sentiment across the market.

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