Sydney CBD Office Figures Q2 2026

Key Points:

• CBRE received 124 leasing enquiries totaling 134,365 sqm in the Sydney CBD in Q2 2026. This volume of enquiries represented growth of 7.3% compared to Q1 2026.
• Leasing activity has remained strong to start the year. Overall net absorption in the Sydney CBD totalled 18,715 sqm in H1 2026. This included Prime net absorption of 19,388 sqm.
• No new office space will be delivered to the Sydney CBD in 2026.
• The overall CBD vacancy rate ended H1 2026 at 13.3%, a decline of -44 bps over the half. The Prime vacancy rate ended the period at 12.6% after declining by -55 bps over H1 2026.
• Rising face rental rates and tightening incentives have driven strong net effective rental rate growth over the last year. Prime net effective rents in the Western Corridor, Midtown, Walsh Bay, and Core precincts increased by 16.7%, 13.2%, 11.0%, and 10.3% over the last 12 months.
• Investment volumes reached AUD 1.9 billion in the Sydney CBD over H1 2026. Cap rates were held stable this quarter and demand for assets in the CBD remains strong.