Thursday 7 April 2022
MEDIA RELEASE
Encouraging signs in return to office as occupancy rates
in most cities rise significantly
CBD workers are heading back to their offices with occupancy rates in Melbourne, Sydney, and Canberra all more than doubling over March, according to a new survey by the Property Council of Australia.
The Property Council of Australia's latest Office Occupancy survey found Melbourne's occupancy increased from 15 per cent to 32 per cent in March, Sydney's office occupancy reached 41 per cent from 18 per cent the previous month, while Canberra hit 45 per cent, up from 21 per cent.
The March survey of office owners also found more modest increases in Brisbane and Adelaide, where occupancy lifted from 41 to 48 per cent, and 47 to 61 per cent, respectively.
Perth was the only city to see a decline in its office occupancy as it entered its peak Omicron infection period, with rates dropping from 55 to 45 per cent, the lowest rate since July 2020.
While the big gains in many cities were coming off Omicron-induced lows, Property Council of Australia Chief Executive Ken Morrison said the data was very encouraging.
"It's heartening that people are returning to the office in such numbers, particularly given considerable weather events on the east coast and the continuing isolation impacts of the pandemic," Mr Morrison said.
