Sydney CBD Office Market
Key metrics and trends for the Sydney CBD (NSW) office market.
Vacancy Rate
12.4%
Falling
Avg Net Face Rent
$1,200
$950 – $1,650 /sqm/yr
Avg Incentive
32.0%
25.0% – 38.0%
Market Sentiment
Balanced
Effective Rent
Low
$680
Average
$880
High
$1,250
Vacancy Rate History
3.9%2019
8.6%2020
11.5%2021
12.8%2022
14.1%2023
13.2%2024
12.4%2025
Supply Pipeline
185,000 sqm
Under construction, expected completion 2027
Major projects:
- Atlassian Central (75,000 sqm)
- Salesforce Tower Sydney (42,000 sqm)
- Circular Quay Tower (68,000 sqm)
Last updated: 2025-06-30
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