Confidential · Prepared for REIQ
Year-End Report · 2025
Year-end analysis of leasing activity, sales transactions and investment performance across the Queensland office and industrial markets. Data period: January – December 2025.
Arealytics · Queensland Market Report 2025
Office Market — Sales Activity & Investment Performance
State Comparison
2025 Office Sales Activity — State Comparison
| State / Region | Deal Count | Total Sales Volume | Median Price /m² | YoY Price /m² Change | Avg Yield |
|---|---|---|---|---|---|
| SEQ | 830 | $2,763,574,990 | $5,640 | 5.58% | 6.9% |
| Greater Sydney | 962 | $5,892,267,893 | $9,076 | -3.92% | 6.2% |
| Greater Adelaide | 335 | $857,837,506 | $5,281 | 6.04% | 5.7% |
| Greater Melbourne | 843 | $3,329,956,419 | $5,891 | 4.25% | 7.1% |
| Greater Perth | 410 | $698,550,030 | $4,612 | 12.9% | 4.9% |
South East Queensland recorded 830 office transactions in 2025, with total sales volume reaching $2.76 billion. Strata offices accounted for nearly two-thirds of all transactions (515 sales), underscoring strong demand for smaller, more accessible office investments.
Freehold assets generated more than $2.2 billion in sales volume — over 80% of total office investment turnover — despite fewer transactions. Average freehold yields of 7.4% outperformed strata yields, reinforcing investor appetite for larger, income-producing office assets.
Sales by Structure Type
2025 Office Sales Activity by Structure Type
Strata offices accounted for nearly two-thirds of all transactions in 2025, reflecting sustained demand for smaller, more accessible investments. Freehold assets, though fewer in number, delivered the majority of total investment turnover and achieved the stronger average yield of 7.4%.
Economic Performance
Queensland Economic Backdrop, 2025
Health Care and Social Assistance recorded the strongest employment growth, with continued expansion across Professional, Scientific and Technical Services, Education and Training, and Public Administration and Safety — underpinning occupier demand for well-located office accommodation across South East Queensland.
Arealytics · 2025 Queensland Office Market Report
arealytics.com.au · Copyright Arealytics 2026
Arealytics · Queensland Market Report 2025
Office Market — Lease Activity & Rate Trends
Lease Rate Trends
QLD Office Lease Rate Per Square Metre Trends
Median Commencing Rent
$606 /m²
Median commencing rents reached $606 per square metre in 2025, reflecting continued demand for well-located office space.
Occupier preferences became increasingly selective through 2025, widening the gap between lower and premium lease rates as tenants concentrated on quality, well-located accommodation.
The dominance of fixed lease-rate provisions highlights a market preference for income certainty and transparent rental-growth expectations, with 4.0% annual escalations the most commonly adopted review structure.
Lease Structure
Most Common Lease Rate Types and Escalation in 2025 Office Leases
Most Common Lease Rate Types
Percentage of Total
The dominance of fixed lease-rate provisions across Queensland office transactions highlights a market preference for income certainty and transparent rental-growth expectations. Annual escalations of 4.0% were the most commonly adopted review structure, indicating landlords have largely sought to embed future rental growth within lease agreements rather than relying on periodic market-based adjustments.
Top Escalation Rates
Percent of Total
Top Lease Terms
Percent of Total
Arealytics · 2025 Queensland Office Market Report
arealytics.com.au · Copyright Arealytics 2026
Arealytics · Queensland Market Report 2025
Office Market — Suburb Pricing Summary
Suburb Pricing
Pricing Summary for Top QLD Office Suburbs by Transaction Count
The Queensland office market attracted steady leasing and investment activity in 2025, concentrated across the Brisbane CBD, inner-city precincts and key regional centres — with rental rates and sales pricing reflecting a broad mix of asset types and occupier demand.
Arealytics · 2025 Queensland Office Market Report
arealytics.com.au · Copyright Arealytics 2026
Arealytics · Queensland Market Report 2025
Industrial Market — Sales Activity & Investment Performance
State Comparison
2025 Industrial Sales Activity — State Comparison
| State | Deal Count | Total Sales Volume | Median Price /m² | YoY Price /m² Change | Avg Yield |
|---|---|---|---|---|---|
| Queensland | 2,153 | $6,371,913,633 | $4,250 | 12.17% | 5.5% |
| New South Wales | 1,576 | $6,759,152,815 | $5,847 | -0.7% | 4.4% |
| South Australia | 574 | $1,608,947,782 | $3,055 | 14.16% | 5.7% |
| Victoria | 2,852 | $6,129,419,113 | $3,303 | 0.67% | 4.8% |
| Western Australia | 980 | $1,779,992,789 | $3,009 | 19.17% | 5.57% |
Queensland's industrial sector delivered one of the strongest performances nationally in 2025, combining the second-highest transaction count with more than $6.3 billion in sales activity.
The state's 12.2% annual increase in median pricing significantly outpaced the larger eastern-seaboard markets, underscoring the continued strength of industrial property values despite a more measured investment environment.
Sales by Structure Type
2025 Industrial Sales Activity by Structure Type
The industrial sales market showed markedly different performance across structure types in 2025. Strata assets recorded strong value growth, with median rates per square metre increasing 29.3% year-on-year, while freehold assets generated more than $6 billion in sales volume — though softer pricing points to a more selective market for larger holdings.
Historical Activity
QLD Industrial Sales Activity by Year
Bars — total sales volume ($B) · figure beneath each year — deal count
Arealytics · 2025 Queensland Industrial Market Report
arealytics.com.au · Copyright Arealytics 2026
Arealytics · Queensland Market Report 2025
Industrial Market — Lease Activity & Rate Trends
Lease Rate Trends
QLD Industrial Lease Rate Per Square Metre Trends
Queensland industrial leasing conditions remained robust in 2025, with median commencing rents reaching $185/sqm — more than 60% above 2021 levels.
Growth across all rent bands suggests occupier demand has continued to support rental expansion throughout the market, from entry-level industrial space through to higher-quality assets.
Lease Structure
Most Common Lease Rate Types and Escalation in 2025 Industrial Leases
Queensland industrial leases were most commonly structured around fixed rental reviews, providing landlords and tenants with greater certainty around future rent movements. Annual increases of 4.0% remained the benchmark escalation rate, reinforcing expectations for consistent income growth across the market.
Most Common Lease Rate Types
Percentage of Total
Top Escalation Rates
Percent of Total
Top Lease Terms
Percent of Total
Arealytics · 2025 Queensland Industrial Market Report
arealytics.com.au · Copyright Arealytics 2026
Arealytics · Queensland Market Report 2025
Industrial Market — Suburb Pricing Summary
Suburb Pricing
Pricing Summary for Top 20 QLD Suburbs by Transaction Count
With 195 lease transactions in 2025, Burleigh Head recorded more than twice the activity of most major Queensland industrial submarkets, underscoring the Gold Coast corridor's growing importance as an industrial and logistics hub.
Arealytics · 2025 Queensland Industrial Market Report
arealytics.com.au · Copyright Arealytics 2026