Brisbane, Perth Office Rents Overtake Sydney, Fueled by Commodities Rally

(Bloomberg) -- Average office rents in Brisbane and
Perth soared in the past year thanks to a mining boom, taking
Australia's third- and fourth-largest cities past Sydney as the
country's priciest markets.

Office rents in the Queensland state capital Brisbane rose
68 percent in the year ended June 30 to average A$696 a square-
meter ($57 a square-foot), Jones Lang LaSalle Inc. said today in
a report. Offices in Sydney, Australia's largest city, fetch an
average A$588 a square meter, the report said. Rents in Perth,
Western Australia's capital, rose 45 percent.


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