A tight office market in Brisbane, Australia, resulting in surging rents and plunging vacancy rates are set to cause a frenzy of speculative building, according to recent reports.

Andrew Harper at Cornerstone Properties said: "Weve been waiting a long time - 16 years - for it to return to a landlords market."

Recent research by Jones Lang LaSalle (JLL) revels that office rents in Brisbane, rose by 21.9% over the past year.
The Property Council of Australias office market report said the Brisbane CBD vacancy rate was 3.5% during December 2005, but JLL said it has fallen since then.