The leading source for coworking and flexible office news, data, and insights.

Subscribe to our newsletter

Brisbane Flex Workspace Demand Dips 31%, While Markets in Sydney and Melbourne Strengthen

Pinterest LinkedIn Tumblr +

Demand for flex space in both Melbourne and Sydney increased by 14% in Q3 2022 when compared to Q3 2021, while Brisbane saw a 31% decrease over the same time period.

This is according to an analysis from global workspace innovation firm The Instant Group, whose digital platforms constitute the world’s largest digital marketplace for flexible workspace solutions, including meeting rooms, virtual offices, flexible office bookings, and coworking memberships as well as consulting services.

“The flexible workspace market has shifted in 2022 compared to pandemic years, with interest returning to key business hubs like Melbourne and Sydney as we continue to live and work with no lockdowns. Demand for flex space in Brisbane dropped in Q3 compared to last year, when the city had high stock levels and high vacancies, plus a hot sub-leasing market which drove demand up. We are however seeing it pick up again in Q4,” said Daniel Tyson-Jones, Regional Director, Client Solutions – ANZ at The Instant Group

The average cost-per-desk for flexible workspace in Sydney and Brisbane increased by 5 and 8% respectively in Q3 2022 compared to Q3 2021, while rates in Melbourne decreased by 5% over the same period.

A chart showing the average cost-per-desk in Australia.

In addition to demand data, The Instant Group also analyzed supply in these Australian markets to see how the industry is working to accommodate rising flexible inquiries.

Supply, meaning the number of flexible workspace centers in the market, grew in all three cities in Q3 2022, up by 7% in Sydney, 5% in Brisbane and 2% in Melbourne compared to Q3 2021.

Related  Instant Group Research Shows Flex Office Demand is Up 58%, with Miami Outpacing Other Cities
Share.

About Author

Established in 1999, The Instant Group is a workspace innovation company that rethinks workspace on behalf of its clients injecting flexibility, reducing cost and driving enterprise performance. Instant places more than 11,000 companies a year in flexible workspace such as coworking, serviced, or managed offices including Barclays, Prudential, Capita, Jaguar Land Rover, Booking.com, and Worldpay making it the market leader in flexible workspace.

Leave A Reply