Major CBD office towers are selling at 20 per cent discounts to their peak value, the best evidence yet that the correction in Australia’s office market is nearing the bottom.
“We’re close to the bottom and these transactions will be the benchmark to set pricing for the next 12 months. We’re pretty close to where we need to be,” Jefferies analyst Sholto Maconochie said.
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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
