The new year has lifted our confidence in reactivating major CBDs across Australia despite COVID outbreaks in several cities over the Christmas period. The latest survey of CBD office occupancy by the Property Council of Australia found that nearly all capital city CBDs were busier at the end of January than they had been before Christmas.
Property Council Chief Executive Ken Morrison said the survey results are a positive sign for Australia’s economic recovery but there was still more progress needed.
“As we start the new year it is encouraging to see so many CBD workers coming back to their offices to enjoy the benefits of face-to-face connections and collaboration. While we have a long way to go to get back to pre-COVID levels, increased CBD occupancy is a godsend for the thousands of businesses that rely on bustling city centres to survive.”
Respondents pointed to a drop in government public health restrictions and reduced safety concerns as factors contributing towards increased occupancy. Worker preferences for greater flexibility were recorded as the predominant reason preventing a return to pre-COVID levels of occupancy.
Office building owners and managers are increasingly expecting a material increase in occupancy levels within the next 1-2 months.
For more information on the office occupancy survey results click here.