JLL has released its latest and most comprehensive industrial vacancy figures for Q3 2024, now spanning Australia’s three largest markets – Greater Sydney, Melbourne, and Brisbane.

The expanded remit of the research now maps an unprecedented 66 million sqms of industrial space across Australia's eastern seaboard, offering unparalleled insights into the nation's industrial real estate landscape, looking at whole market, precinct, and suburb level data in addition to direct and sublease vacancy totals. 

Key Findings:

• Melbourne leads in size and efficiency: With 29.7 million sqm, Melbourne not only remains Australia's largest industrial market but also boasts the lowest vacancy rate at 3.12%.
• Sydney's dynamic market: Despite a slight uptick to 3.95% vacancy, Sydney's impressive 23.1 million sqm market showcases resilience and adaptability.
• Brisbane's emerging strength: The third-largest market at 13.6 million sqm and a 3.67% vacancy rate, Brisbane signals robust growth potential driven by strong population trends.

JLL Head of Strategic Research – Australia, Annabel McFarlane, said, “Industrial vacancy edged up in most Melbourne and Sydney precincts over the quarter, as mixed demand results were outweighed by well above average volumes of new stock delivery.”

“South East Melbourne is the only precinct of scale to record declining vacancy over the quarter. This precinct totals close to 11 million sqm but with just 1.6% vacancy, options for occupiers remain limited.”

Ms McFarlane emphasised the significance of the expanded data: "Our meticulous data methodology leverages JLL's GIS mapping tool and RED (Real Estate Data) database, providing unprecedented accuracy in industrial market insights. This includes mapping all industrial buildings over 5000 sqm in Melbourne and Sydney and over 3,000 sqm in Brisbane and linking them to our comprehensive RED database."

“This level of detail empowers clients to make informed investment, development, and pricing decisions in an increasingly complex market environment."

JLL's RED is an advanced data and analytics platform designed to uncover critical insights and new opportunities from large amounts of real estate data. It works by assimilating and integrating vast amounts of real estate data from various sources with critical business and market information, to provide clients with a comprehensive view of their portfolio. 

"As we work to expand this research to include Perth and Adelaide, JLL is committed to delivering the most comprehensive industrial market intelligence in Australia."

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