Demand for commercial property remains strong in Sydney, with sub lease space falling and sales on the ascendance.
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Savills recorded $5.8 billion of office transactions in the 12 months to June 2015, up 78 per cent from $3.34 billion in the previous 12 months, and up on the five-year average of $2.96 billion.
Houssam Yakzan, Savills research analyst, said that this could turn out to be Sydney's strongest year of office investment.
According to the latest Sublease Barometer report from CBRE, in the second quarter the total volume of sublease space in CBD markets across the country dropped 14 per cent to reach 278,200 square metres, led by a 22 per cent fall in Sydney, a 10.3 per cent decrease in Melbourne and a 59 per cent decline in Canberra.
