墨尔本中央商务区办公室2026年第一季度市场状况

Development pipeline to stall post-2026 following the completion of 435 BourkeStQ1 2026 •Melbourne office briefs totalled 81 in Q1 2026, marking the highest first-quarter result on record.•Effective rents are up 16.1% y/y in the Eastern Core, markedly higher than any other precinct in the CBD.•Development activity is forecast to halt after 2026, with no clear completion timeline for subsequent projects.•Over Q1-26 there were no significant CBD office sales as the market adjusts to changes in the economic climate.•Prime yields softened further in Q1-26, declining 13 bps q/q to average 6.89% across the CBD. Melbourne CBD office yieldsby grade% (LHS), and spread in bps (RHS) Melbourne CBD office investment volumesinvestment volumes in A$millions(LHS), # transactions (RHS) Research & Consulting, VICTony McGough+61 406 928 820tony.mcgough@au.knightfrank.com Office Leasing, VICSimon Hale+61 417 147 785simon.hale@au.knightfrank.com Valuations & Advisory, VICMichael Schuh+61 412 443 701michael.schuh@vic.knightfrank.com Tenant Representation, VICCraig Carr+61 447 463 778craig.carr@au.knightfrank.com Institutional Sales, VICTrent Preece+61 400 504 300trent.preece@au.knightfrank.com Research & Consulting, VICLaurence Panozzo+61 401 251 876laurence.panozzo@au.knightfrank.com Important Notice © Knight Frank Australia Pty Ltd 2025–This report is published for general information only and not to be relied upon in any way. Although high standards have been used in the preparation of the information, analysis, views andprojections presented in this report, no responsibility or liability whatsoever can be accepted by Knight Frank Australia PtyLtd for any loss or damage resultant from any use of, reliance on or reference to the contents of this document. As a generalreport, this material does not necessarily represent the view of Knight Frank Australia Pty Ltd in relation to particular properties or projects. Reproduction of this report in whole or in part is not allowed without prior written approval of Knight FrankAustralia Pty Ltd to the form and content within which it appears.