While conditions remain soft elsewhere, a surge in tenant demand is placing upward pressure on rents for office space in Sydney and Melbourne, according to a new report.

Releasing the January edition of its Office Market Report, the Property Council of Australia said that while conditions in other capitals remained favourable to tenants, net effective rents jumped by 8.6 per cent and 5.9 per cent in the CBDs of Sydney and Melbourne respectively over the 12 months to…