Colliers International has highlighted a downturn in the Brisbane metropolitan office market as a result of a slowdown in the mining and resources markets.
Following a period of rapid growth over the last five years, the Brisbane office market now appears to be suffering, with weakening tenant demand and negative absorption being witnessed for the first time since July 2009 during the last six months.
"It comes as no surprise that a potential slowdown in mining is having some impact on the office market," commented Warwick Wolfe, Colliers International director of office leasing.
However, he added that is still "too early to tell" whether a slowdown will continue and therefore the longer-term impact on the office market cannot be determined.
Earlier this month, Colliers International revealed a 35 per cent increase in the number of tenant enquiries for office space in Canberra's central business district.
The analyst pointed to the limited amount of new stock that is entering the market as the catalyst for this latest rise.
Posted by Craig Francis
