Sydney CBD strata office sales hit $100 million in the first half of 2019

There were $101.77 million of sales recorded for Sydney’s CBD strata office market in the first half of 2019, according to research from Ray White.

Samuel Hadgelias, Ray White Commercial NSW Associate Director, said overall fundamentals of the Sydney CBD office market remained strong, but the overarching demand levels for purchasing strata stock were starting to show signs of wavering. 

“Lack of quality strata office offerings saw much competition emerge for stock in 2018, but the continued limited availability on the market this year has kept prices growing, albeit with less urgency from buyers,” Mr Hadgelias said. 

“Reductions in interest rates should further stimulate this market but the continued difficulty in obtaining finance has slowed the pace of buyers acting.” 

The overall increase in capital value has grown 14.02 per cent compared to 2018’s annual results. 

This has led to an average sales price of $13,900 per square metre - Up from just over $11,000 per square metre in 2018.