Savills Research Australia Quarter Time National Office Q4/2017 CBD Averages – A Grade National Office Trends Detailed N.F. Rent N.E. Rent Market Yield IRR Cap. Value Sales Activity: Sydney CBD 1,000 (16.3%) 780 (19.1%) 4.95 (-45bps) 6.70 (-45bps) 19,100 (17.9%) $17.39 8 b n 160 Sales ($10m+) Melbourne CBD 580 (10.5%) 420 (10.5%) 5.20 (-55bps) 6.90 (-10bps) 9,800 (4.3%) Brisbane CBD 540 (8.0%) 290 (9.4%) 6.25 (-50bps) 7.25 (-90bps) 9,000 (7.1%) Leasing Activity 1,205,740sq m Perth CBD 565 (n/c) 290 (-1.7%) 7.25 (-25bps) 7.50 (-50bps) 7,9 0 0 (n /c) 340 Leases (1,000sq m+) Adelaide CBD 370 (n/c) 260 (-5.5%) 7.50 (-50bps) 8.25 (-50bps) 5,000 (6.4%) Employment Canberra Civic 370 (2.8%) 290 (5.5%) 6.40 (-35bps) 8.15 (05bps) 6,800 (19.3%) 12.380m 3.1% grow th Note: 12 month change shown in brackets Please note there have been material changes to this report and some methodologies, please contact Savills should you require explanation. savills.com.au/research Savills Research | Quarter Time – National Office Q4/2017 Report Contents National Head – Capital Strategy & Research National Indicator Summary 3 Office Economic Drivers 5 Chris Freeman National Sales Activity 6
[email protected] National Leasing Activity 7 Senior Analyst – Capital Strategy & Research State Indicators and Major Activity New South Wales 8 Shrabastee Mallik Victoria 11
[email protected] Queensland 14 For our latest national reports, visit Western Australia 17 savills.com.au/research South Australia 20 Australian Capital Territory 23 To join Savills Research mailing list, please email
[email protected] Key State Contacts 26 National CBD Average Yield and IRR vs 10yr Bond Rate Source: RBA, Savills Research National CBD A Grade - Average Yield Spread over 10yr Bond Rate and IRR Multiple Source: RBA, Savills Research savills.com.au/research 2 Savills Research | Quarter Time – National Office Q4/2017 Fringe Market Averages – A Grade National Office N.F.