Higher interest rates have weighed on the office market, however, investment bank Jefferies believes that prices are nearing the bottom.
Jefferies analyst Sholto Maconochie said there’s not much downside left.
“We’re probably within 5 to 10 per cent of the trough for premium and secondary buildings,” Mr Maconochie said.
“The valuers are letting the air out of the tyres.
“We’re pretty close to letting enough air out and getting back to race ready.”
