Savills Studley Releases Q2 2016 Findings for Austin

Savills Studley, the leading global commercial real estate services firm specializing in tenant representation, has released its 2016 Q2 Austin edition of the Savills Studley Office Market Report.

The quarterly report is an in-depth compilation of office leasing statistics and trends, major transactions, submarket comparisons, employment trends and investment and development trends specific to the Austin region.

Highlights from the 2016 Q2 Studley Austin Report include:

• Office space availability for companies on the move in Austin continues to decline. Despite an uptick in Q1, availability rates retracted in Q2
• Austin’s Class A availability rate is now at its lowest mark since early 2013
• While the market’s population is still booming, Austin has a very low unemployment rate. The available talent pool remains quite thin for employers
• Slower hiring and tenuous tech investors have reduced demand from the tech industry for headline Austin office space. Renewals and consolidations by mature tech firms in popular suburban submarkets comprised much of the Q2 leasing activity
• The availability of large contiguous blocks of available office space remain elusive. 
• The upward trajectory of Austin’s asking rents has gone uninterrupted as the market’s population continues to grow and new product fails to meet demand

Please click here to download the 2016 Q2 Savills Studley Austin Report, as well as a national report and reports for each of the 29 major U.S. markets.