Knight Frank identifies Brisbane and Perth as most affordable Australian markets for office fit-outs

Australia-based Knight Frank has identified Brisbane and Perth as the most affordable office fit-out markets in Australia, according to the firm's Asia-Pacific Fit-Out Cost Guide 2026, which tracks workplace spending across 23 cities covering Australasia, East Asia, Southeast Asia and India, COMMO reported.

The research found costs are expected to rise between two to five per cent over the next 12 months amid tightening labour markets, sustainability requirements and global trade uncertainty.

Within Australia, fit-out costs were found to be highest in Sydney at an average of US$1,334 (€1,153.61) per square metre, followed by Melbourne at US$1,300 (€1,124.21) per square metre, and Brisbane and Perth both at US$934 (€807.70) per square metre.

Mark Blinco, Knight Frank Australia's national head of project management, said fit-out costs in Australasia reflect the characteristics of a mature, high-quality office market, with pricing increasingly shaped by labour availability, specification intensity and environmental, social and governance expectations.

"The Australian office market is at very different points in its cycle depending on what capital city you look at," Blinco said. "We have Sydney, where fitout costs remain high and will likely continue to grow due to labour and material cost pressures, but also softer markets like Brisbane and Perth where costs remain steady but are overall more manageable, even with infrastructure booms underway for the Olympics in 2032."

Paul Kennedy, Knight Frank head of project management Queensland, said Brisbane's average fit-out cost places it below Sydney and Melbourne, keeping the city attractive for occupiers managing capital budgets. "Brisbane's tender price uplift is forecast at circa five per cent in 2026, driven by sustained activity, supply chain strain and major infrastructure programs," Kennedy said.

Across Asia-Pacific, Singapore ranked as the most expensive city for office fit-out at an average of US$2,029 (€1,704) per square metre.

Explore the complete Knight Frank Asia-Pacific Fit-Out Cost Guide 2026 and regional market analysis in the full article.