OFFICE MARKET REPORT RECAP

 The Property Council kicked off its first event for 2022 with the Office Market Outlook report on Thursday 2 February. An overview of research insights from the latest data was delivered by Jennelle Wilson, Partner – Knight Frank Australia who highlighted that demand for office space is strong, despite the pandemic challenges.  
Current trends and predictions for the future were unpacked by the expert panel moderated by Bradley Norris, Regional Development Director (QLD, WA, SA) – Charter Hall joined by Ken Morrison, Chief Executive Officer – Property Council of Australia, Matthew Miller, General Manager – Queensland and Project Leasing – Office – Dexus, Michelle Fitzgerald, Development Manager – CBUS Property and Tania Moore, Senior Director Advisory and Transaction – CBRE. 
While current COVID-19 impacts were discussed by the panel, there was a consensus that the ongoing demand for office space and high vaccination rates were providing a strong foundation to support a return to the office.

The audience were able to delve into the future with thoughts on how office space could be re-imagined going forward, including greater use of public green spaces, wellness centres, and communal ‘third’ spaces giving tenants flexibility on their total office footprint. As increased public transport options become online in the CBD, there was discussion about leveraging this connectivity to remove barriers preventing people returning to the physical workplace.  
While Thursday’s Office Market Report briefing was held online the Queensland division is looking forward to resuming in-person events in March. Please check out our fantastic 2022 event schedule here,

For those interested in purchasing the data discussed at the virtual event, please click here.