Australian Office Sublease Barometer June 2026

Key points:

• National sublease volumes increased slightly over Q2 2026. Combined CBD sublease availability ended the period at 151,653 sqm. This marked a quarter-over-quarter increase of 21.6%. Despite the increase, the Q2 2026 total was still the second lowest national volume figure since the onset of the pandemic, and marked a decline of -12.6% from Q2 2025.
• Each market recorded increases to CBD sublease volumes over Q2 2026.
• Sydney saw the largest increase over the quarter, ending the period with 59,203 sqm of available sublease space.
• The Finance & Insurance and Professional Services sectors drove the bulk of sublease activity as of Q2 2026. These two occupier types accounted for 61.4% of national sublease activity.
• The average size of sublease listings has now declined to 1,076 sqm. While there were a few larger sublease listings made available in Q2 2026,  the bulk of new space which has been brought to market has been in the form of smaller blocks of space.