A warning shot has been fired across the bow of buoyant Sydney and Melbourne office markets, with a Goldman Sachs analysis forecasting net effective rents could decline sharply within three years.
The analysis, Australian Office Markets: Beyond the tipping point, noted that net demand for office space in the Melbourne CBD is down by 90 per cent on its 2018 levels.
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Nick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts. Connect with Nick on Twitter. Email Nick at nlenaghan@afr.com
