![](https://growthpoint.com.au/sites/default/files/styles/banner_small/public/2024-07/Aerial-Brisbane-2023-blur-news-hero.jpg?itok=eqVVLb_l) # Insights: What's driving opportunities in the Brisbane office market July 2024 [Back to News & media](/news) After a 2-year devaluation cycle, where are the best opportunities now in Australian commercial real estate? We believe some of the best returns are in the Brisbane office market. ![](/sites/default/files/inline-images/Brisbane-market-graphs-0724-horizontal.png) --- **Some of the drivers that make the Brisbane office market attractive right now include:** - Vacancy rate of 11% vs national average of 16% - Rental growth of 11% vs national average of -1% - Strongest net absorption across all Australian office markets - Attractive yields relative to Melbourne and Sydney, representing a good entry point - High construction, labour and finance costs are deterring new supply, most notably in the fringe markets - Limited supply additions are expected to be exacerbated by large Government infrastructure projects - Economic rents for new developments are considerably higher than existing rents - A deep pool of large occupiers including Government tenants - Population growth exceeds national average Growthpoint is a strong believer in the Brisbane office market. We have extensive experience through our acquisition and management of eight office assets valued at over $800 million. In the past two years we have leased c.45,000 sqm of office space across 60 transactions. **Our highly experienced team is actively looking at opportunities in the Brisbane office market for private wholesale and institutional investors, if you are interested, please get in touch with** [**Catherine Farrell**](mailto:cfarrell@growthpoint.com.au)**, Manager, Investor Relations at Growthpoint Properties Australia.** --- This article has been prepared by Growthpoint Investment Management Pty Ltd (ACN 093 111 641 \| AFSL 289 244) (Growthpoint) as at 31 July 2024. This article has been prepared for wholesale clients only (as defined by section 761G of the Corporations Act 2001 (Cth)). This article does not constitute personal financial product advice and has been prepared without taking account of the recipient’s objectives, financial situation and needs, and does not purport to contain all information necessary for making an investment decision. In preparing this article, Growthpoint has relied upon information provided to it by third parties. Growthpoint and its directors, officers or employees do not represent or warrant that the information relied upon to prepare this article is complete or accurate or that it has been audited. Any opinions in this article are based on estimates and assumptions related to business, economic, market, political, social and other conditions that are inherently subject to significant uncertainties, risks and contingencies, and the assumptions may change at any time without notice. No representations or warranties, express or implied, are given by Growthpoint, nor any other related body corporate and its directors, officers or employees that these future matters will occur or that any expected future performance will be met. Related articles [](/news/growthpoint-completes-fy22-fy26-sustainability-framework-and-refreshes-strategy) ![](/sites/default/files/styles/listing_view_component/public/2021-06/News-teaser-img-net-zero-2025.jpg?h=325f73b2&itok=OTNkc2Ih) October 2026 Growthpoint completes FY22-FY26 Sustainability ... [ Learn more ](/news/growthpoint-completes-fy22-fy26-sustainability-framework-and-refreshes-strategy) [](/news/growthpoints-central-park-mall-welcomes-key-new-retailers) ![](/sites/default/files/styles/listing_view_component/public/2026-06/Central-Park-sq-teaser-img.jpg?h=e0be0408&itok=T69Spf8V) September 2026 Growthpoint’s Central Park Mall welcomes key new ... [ Learn more ](/news/growthpoints-central-park-mall-welcomes-key-new-retailers) [](/news/growthpoint-achieves-over-94-occupancy-307-queen-street) ![](/sites/default/files/styles/listing_view_component/public/2026-06/307-Queen-st-sq-teaser-img.jpg?h=e0be0408&itok=DsFWVlqN) August 2026 Growthpoint achieves over 94% occupancy at 307 Queen ... [ Learn more ](/news/growthpoint-achieves-over-94-occupancy-307-queen-street)