Australian Flexible Office Market Report 2024

The Australian flexible office market experienced a significant evolution in 2024, marked by a continued shift away from traditional workspaces and an increasing demand for adaptable work environments.

Analysis of tenant preferences reveals a strong inclination toward premium amenities, convenient locations, and technologically advanced spaces. The Australian flexible office market exhibits diverse regional dynamics, with Sydney maintaining its position as a leading spot despite a slight dip in demand. At the same time, Melbourne underwent a pricing adjustment amidst higher flexible office vacancy rates.

Brisbane demonstrated stability in the flexible office market, and Perth showed signs of softening. Canberra and Adelaide presented themselves as cost-competitive options for flexible offices in Australia. Although specific data on the overall inquiry-to-deal ratio remains elusive, the market caters to many startups, SMEs, and established corporations embracing hybrid work.

Looking ahead, the Australian flexible workspace market is projected for continued expansion, driven by ongoing trends such as the flight to quality, increased landlord participation, and a growing emphasis on sustainability.