Office Absorption has changed a lot in the office markets over so many years. The covid era simplified matters and shaped the way office absorption has happened since its start. We look at PCA office absorption for the 5.5 years up to and including January 2020...
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The graph below shows 6 monthly office space absorption in the 6 capital cities since 1990 from the PCA figures. They are the most consistent figures in the market. Last week’s CREview numbers showed how absorption has changed over the last 5 years. But what does the...
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For a while there was a lot of discussion about office space supply; undersupply, lack of supply, even “supply crisis”. As often happens, things have calmed down and that is because supply is not really the issue. Demand is thin, and remains so. In many examples...
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Nice to be back from a whirlwind trip in the US visiting 4 cities in 11 days. Nashville is a fun town and if you ever get the chance, go to Broadway and listen to the quality of the bands. The place is a zoo...
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We have previously explained the accordion effect in the office markets, where tenants relocate from one market to another; very often from the CBD to the suburbs or from the suburbs to the CBD The usual culprit is cost. When the costs get too high in...
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CRE is rigid by nature because of the physicality of the built environment; external (buildings) or internal (fitouts). As a result, this inherent rigidity has shaped the Lessee and Lessor leasing equation forever. But things are changing, and lessees are wanting more flexibility. The Corenet Flex Factor...
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After reading and hearing so much about the supply crisis, we delved further into the facts and figures to see what it was really all about. There is enough to write a white paper but too much for CREview so following are just a handful...
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Last week Managing Director of Leesman, Kyle De Bruin, presented Leesman’s latest report titled “Rhythms”. Like Kyle’s presentation at the Corenet conference the other week, it was brilliant. The Rhythms report “captures the evolving rhythms of employee behaviour in a hybrid working world, aiming to increase the understanding of three core...
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The annual CoreNet conference “The Revolution of Experience” was held last week at the fantastic new Illumina venue in 1 Elizabeth Street. It was voted by many as the best conference yet and I agree. Congratulations to the Corenet team on such a successful event. The wider CRE...
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The Australian Financial Review Property Summit on Monday was a great event and thank you to the AFR, its staff, and all speakers for an insightful look into the commercial property world. The panel that resonated the most was "The Great Retail Revival" with Elliott Rusanow, CEO, Scentre...
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