According to MSCI Real Assets, JLL ranked #1 for office investment sales in Australia in 2025 by transaction volume.
JLL has secured the top ranking for office investment sales across Australia in 2025, reflecting strong execution across a complex market environment and continued investor demand for high-quality assets.
Data from MSCI Real Assets shows JLL led the market on a sell-side basis, advising on a significant share of office transactions nationally across core CBD and metropolitan markets, with total office investment volumes reaching approximately $9 billion in 2025.
JLL Research indicates Australia’s office market is entering a period of constrained supply, with national CBD completions projected to fall to less than half the 20-year average by 2027–2028. With around 85% of new developments only proceeding once tenant pre-commitments are secured, investor demand is increasingly focused on high-quality, de-risked assets. (Source: JLL Research, Australia Office Development & Pre-Commitment Analysis, 2025)
Pricing for prime office assets largely reset in late 2024, with 2025 reflecting a gradual recovery in values driven by income growth in higher-quality assets. Capital remained focused on prime, well-located assets, with offshore investors active and domestic real estate investment trusts (A-REITs) re-emerging in select CBD transactions.
“Investor demand for high-quality office assets remains steady, particularly where buildings can demonstrate income durability, strong sustainability credentials and alignment with tenant expectations,” said Luke Billiau, Head of Capital Markets, Australia & New Zealand, JLL.
“What we’re seeing is a growing divide in the market, capital is targeting the best assets, while secondary stock continues to reprice. This has created a more selective but still active investment environment.”
JLL’s performance reflects both the depth of its local platform and its ability to connect global capital with opportunities across Australia’s office markets, particularly as investors reposition portfolios in response to changing workplace dynamics.
With pricing discovery progressing and capital re-entering the market, JLL expects transaction activity to build through 2026, particularly for assets aligned to long-term occupier demand. Investor interest in prime assets is expected to remain constrained, reinforcing competition for well-located assets.
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