RESEARCH
THE average office lease length across Australia’s workplaces has been slashed by 28% since prior to COVID, according to new data from...
Average office leases were being struck at 41.4 months – almost three-and-a-half years – in the first quarter of 2019. But COVID and lockdowns emptied...
The data from the commercial property management platform also highlights a jump in the demand for short-term leases of up to 12 months...
In Q1 of 2019, office leases of 12 months or less made up 18% of all leases. In Q1 2023, those leases accounted for one third of all leases...
Tom Wallace, CEO of Re-Leased, said there are a number of forces driving the increased demand for shorter, more flexible lease terms from businesses...
“While the pandemic is now in the rear-view mirror, companies are still determining what their office requirements will be in this new world...
“However, this creates a great opportunity for landlords to respond to changing demands by offering simpler short-term leases which...
But the commercial real estate market has seen the structural uncertainties around how we work in a different way, with office building values...
Dexus saw 7.7% wiped off the value of its office towers after sales of major Sydney towers well below book value, while...
The Property Council of Australia’s CBD office occupancy data series that ran throughout the pandemic came to end in February this year...
Melbourne, which struggled with more and heavier lockdowns throughout the pandemic, typically lagged all other CBDs and...