This narrative has been doing the rounds for a while and - in terms of unlisted property at least - has been fairly close to the mark. However, going forward, it has become a really unhelpful idea.

Firstly, office property prices have corrected, vacancies are not nearly as high as one might expect, new supply is not coming any time soon and, there is a lot more to commercial property than just the office sector.

Let’s deal with each of these in turn.

Australian CBD office rents and valuations have come off sharply. Since 2019, farrelly’s has forecast that Au...