Transform with technology The completion of a number of new developments and the associated backfill space pushed the Melbourne CBD vacancy rate up to 7.7% in 2Q20.Mr O’Connor said, “The education (tertiary and vocational) sector has been one of the industry sectors most impacted by COVID-19. Go beyond cost and risk mitigation. For further information, visit The headline vacancy rate increased by 0.7 percentage points to 12.8% over the quarter.Mr O’Connor said, “The number of leasing inspections have started to improve in the Brisbane CBD. Breathe life into old space, or create something brand new to help your people thrive. WEBINAR: 7 May—COVID-19: Industrial & Logistics Market Update All six of the monitored CBD office markets recorded negative net absorption in 2Q 2020 “However, the office re-entry has shown the importance of office space for collaboration, ideas generation and employee socialisation. The national CBD office market vacancy rate increased by 1.8 percentage points from 8.4% to 10.2% in 2Q20.JLL Head of Research – Australia, Andrew Ballantyne said, “The past 12 weeks have been unprecedented for the Australian office sector. Headcount reductions have been concentrated in the hospitality, retail, arts & recreation and construction sectors, but traditional office using industry sectors have not been immune.“Policy measures have provided downside protection to the economy and the re-opening of the economy has occurred well ahead of expectations. JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of more than 94,000 as of March 31, 2020. However, many organisations will struggle to find a pathway back to pre-crisis revenue levels and this will have an impact on office sector demand,” said Mr Ballantyne.All six of the monitored CBD office markets recorded negative net absorption in 2Q20.The Sydney CBD recorded -66,600 sqm of net absorption over the quarter and vacancy increased to 7.5% in 2Q20. The Commonwealth of Australia has already announced new funding into cyber security and the creation of new jobs. Move into your first office, find a new one with room to grow, or develop a complete location strategy. Invest in real estate Europe Middle East and Africa ... Hyderabad topped the chart in net absorption and new completions, registering a 36 per cent … “However, many organisations will struggle to find a pathway back to pre-crisis revenue levels and this will have an impact on office sector demand. “The work from home experience has shown it has a viable place in a modern flexible workplace strategy,” O’Connor said.

The mining sector will be a direct beneficiary of new infrastructure projects and we may see an increase in project space over the latter part of 2020 and into 2021.” Stay up to date and subscribe to the latest news, projects, deals and features.The Urban Developer is Australia’s largest, most engaged and fastest growing community of property developers and urban development professionals. We have seen a number of institutions including RMIT and Monash University downsize their occupational footprint in the Melbourne CBD over Q2.”The Brisbane CBD recorded -15,700 sqm of net absorption in 2Q20. JLL national head of leasing Tim O’Connor said in an environment of uncertain revenue projections, organisations have pivoted towards addressing their cost base. Australia Melbourne Apartment Market Commentary 2Q20 As a result, the Perth CBD vacancy rate moved out to 20.1% in 2Q20.Mr Ballantyne said, “We are closely watching the announcement of new infrastructure projects both domestically and overseas. “We have seen a number of organisations downsize their space requirements and sublease availability has started to increase,” O’Connor said. Manage property & portfolio However, the majority of enquiry is concentrated in the sub 500 sqm cohort of the market.”The Perth CBD recorded -10,500 sqm of net absorption over the quarter. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. AUSTRALIA, 10 JULY 2020 – JLL Research has released 2Q 2020 statistics on national office markets. All CBD office markets recorded negative net absorption and increased vacancy during the tail end of the first wave of Covid-19 in Australia.The figures showed a negative net absorption of -147,600sq m in the second quarter of 2020, according to JLL's national office vacancy statistics. Uncover investment opportunities and capital sources – all over the world. The Australian office sector moves into the downturn phase of the cycle The bulk of enquiry is concentrated in the sub 800 sqm cohort of the market and is seeking fitted space.”The Melbourne CBD recorded -42,300 sqm of net absorption over 2Q20. According to JLL India estimates, the net absorption for 2018 is expected to be at 30.2 msf to record a positive growth over 2017. The mining sector will be a direct beneficiary of new infrastructure projects and we may see an increase in project space over the latter part of 2020 and into 2021.”Canberra recorded -8,200 sqm of net absorption over the quarter. Australia Sydney Apartment Market Commentary 2Q20 Connect your business with business and reach out to our partnerships team today.Stay up to date and subscribe to the latest news, projects, deals and features.The Urban Developer is Australia’s largest, most engaged and fastest growing community of property and urban development professionals.Our mission is to connect, inform and inspire the industry by being the leading source of news, information, events, education and products.Our vision is to grow a global network of people and businesses that are contributing to the development of smart and sustainable cities around the world.In doing so, we believe we will empower our community to make better decisions that will result in better outcomes for the built environment.Stay up to date and subscribe to the latest news, projects, deals and features.^Source: JLL National Office Vacancy Statistics 2Q20^Source: JLL National Office Vacancy Statistics 2Q20

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