The survey shows that that the average cost of prime office space in Australia's major CBDs is the lowest in the developed world and amongst the most competitively priced in the world. Sydney, the most expensive city in Australia, according the survey, is still 35% lower than both New York and Tokyo. The most expensive office location in the world, still the West End of London, is 50% more expensive than Sydney, according to the survey.

The news has prompted Invest Australia, an inward investment agency set up by the country's federal government in 1997, to use the data as a marketing tool. "With the affordability of office space in Australia and the solid economic fundamentals that Australia posses, it's no wonder that Australia remains a competitive location for foreign direct investment," says Adelaide Boon of Invest Australia in a prepared statement that accompanied a news release about the DTZ ranking.

DTZ is a real estate services firm with 6,500 employees in 125 offices in 33 countries. The survey was based on the average total cost of leasing approximately 10,000 sf of net usable office space in modern, well-specified office building within a prime Central Business District location. They include rent and outgoings, such as maintenance costs and property tax, but exclude rent-free periods, build-out cost and other leasing incentives.