• Incentives have risen in Sydney, Melbourne and Brisbane, resulting in falls in net effective rent.

 

  • Prime net face rent held steady across the board, except for Brisbane where it declined by 1.2% over the quarter - the only CBD market recording a fall in face rents.

 

  • Leasing activity in terms of enquiry levels has remained healthy in most markets since the COVID-19 outbreak, except Melbourne where leasing activity has recently been impacted by the spike in cases.

 

  • Sublease space has increased in Sydney and Melbourne.

 

  • Yields were static in all CBD markets over the quarter.