Positive economic conditions driven by population gains and high employment rates have delivered another year of solid activity in the office property sector. This is forecast to continue
Difficulties for occupiers searching for suitably available prime space ready for occupation is an ongoing trend, which is enabling a supply response from developers. Refurbishment, strengthening, repositioning and new build activity is underway, but challenging construction sector conditions mean the pace of new space becoming available has not always met expectations. In many central office hotspots, conditions are tight, but there are opportunities for tenants to consider, more depending on the level of tenant flexibility.