GENERAL NEWS
THE future of the office market and a further repricing of tens of billions of dollars in asset valuations are on the line, with the Fair Work Commission to consider whether the...
Workplace Relations Minister Tony Burke has instigated the review which could affect the working habits of up to around 2.2 million Australians. If the findings are to the...
The review follows this month’s legislation of right-to-disconnect laws that give workers the right to not engage with after-hours work calls, emails and texts. The Fair Work...
Prime Minister Anthony Albanese told a press conference in Sydney yesterday that working from home provided flexibility and productivity improvements...
Office values have tumbled worldwide as COVID forced an existential crisis on the sector. Working from home became the new normal as lockdowns kept workers in their homes...
The review comes just as CBRE data shows office occupancy levels in some cities are within touching distance of pre-COVID rates. Pacific head of research...
Property funds management giant Charter Hall told the ASX-listed company’s interim earnings call results this week “we’re seeing…finally organisations...
“Many companies are moving to five days a week, and as the labour market softens in many, many sectors, we’re going to see a much greater densification and use of office space as...
During 2023, Dexus sold its 44 Market Street tower in the Sydney CBD at a 17.2% discount to book value, and the 1 Margaret Street tower at a 21% discount to book value...
Prior to Burke instigating the review, Colliers analysis had suggested that more than 25% could be wiped off the value of prime Sydney office tower values from the peak...
Uncertainty around the future of office towers, together with higher interest rates, contributed to commercial real estate transactions plummeting by nearly half in...
Albanese government hoping to boost productivity
The Albanese government is looking to lift the country’s productivity and get a sluggish economy moving. Productivity is forecast to increase at a rate of less than 2% until
“Sometimes it means they’re not paying for the same amount of desk space at their own premises, which can be a significant benefit for some employers.”
“We have to be careful that the Albanese government just doesn’t side with the unions on every occasion, because all that happens is if the price of wages go up too dramatically...