North Sydney Office Market
Key metrics and trends for the North Sydney (NSW) office market.
Vacancy Rate
10.2%
Falling
Avg Net Face Rent
$850
$650 – $1,100 /sqm/yr
Avg Incentive
30.0%
25.0% – 36.0%
Market Sentiment
Balanced
Effective Rent
Low
$450
Average
$600
High
$820
Vacancy Rate History
6.8%2019
12.5%2020
18.2%2021
19.6%2022
16.4%2023
12.8%2024
10.2%2025
Supply Pipeline
95,000 sqm
Under construction, expected completion 2027
Major projects:
- Victoria Cross Over Station Development (55,000 sqm)
- 1 Denison Street (40,000 sqm)
Last updated: 2025-06-30
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