The Property Council of Australia’s survey of members who own or manage office buildings in Australian CBD locations has revealed September 2020 office building occupancy to be well below pre-COVID-19 levels despite very low or no community transmission being reported in most locations. This new data reinforces the parliamentary decision to order most federal public servants back to their offices, and the Prime Minister’s call for business and state public services to follow suit.
A market-by-market wrap up is provided below:
Melbourne CBD occupancy rate of 10 per cent was the lowest in the country and reflected the impact of stringent Stage 4 restrictions.
Sydney CBD office occupancy increased from 30 per cent to 35 per cent, while Brisbane CBD increased from 45 per cent to 52 per cent, Perth CBD increased from 55 per cent to 63 per cent and Adelaide CBD increased from 61 per cent to 67 per cent.
Canberra and Darwin CBD office occupancy rates were essentially unchanged at 46 per cent and 70 per cent, respectively.
Meanwhile, Hobart grew the most of all capital cities, up to 78 per cent from 60 per cent in the month prior.
Source: Property Council of Australia