Total office stock in the Sydney CBD today is approximately 5,200,000 m2. Approximately 170,000 m2 (3%) of stock is being added to the market this year and about 50,000 m2 (1%) in 2023. For the years 2024 to 2028 there are about 500,000 m2 + of...
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In previous posts about office and redundancy (The office isn’t dead but how redundant is it?), we highlighted that real positive net absorption (not enquiry demand) in the Sydney CBD has been slowly decreasing for decades. However, absorption always jumps when vacancy is high, and the...
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In October 2021, we started our long-term forecasts for the Sydney CBD office market but at that time we were in lockdown and certainty was far from certain. In April this year we found certainty returning and restarted the forecasts. The time frame was roughly 5...
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The new component is the “structural demand” which started years ago with the higher adoption of technology to increase productivity. This is the ongoing “connection/disconnection”. Covid not only sped up this adoption, but it and the connection/disconnection have created the next ways of working. The next...
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