As Australia records more flexible workspaces than ever before, new report analyses the exciting evolution of the coworking landscape.
- 41 per cent increase in supply pushing average desk rates down across all markets
- The rise of niche and industry-specific workspaces as providers try to remain competitive
- 80 per cent of Office Hub enquiries requested private office space
- 73 per cent of new flexible workspaces located outside of CBD
- 40 per cent of businesses enquiring on coworking are established companies experiencing static business growth
The 2019 Australian Coworking Market Report analyses the supply and demand in the coworking industry across all major cities, compares it to last year’s figures and findings, as well as predicts the future of coworking down under.
Last year the coworking market entered a new phase as supply met demand for the very first time. We reported a 26 per cent increase in listed workspaces while this year we saw an even greater increase of 41 per cent in supply. Flexible working has become the new normal, the coworking population enjoys greater choice, softening rates and vastly improved quality across the board.
The 2019 Australian Coworking Market Report taps into exclusive stats and aims to interpret a new wave of supply and massive growth in the sector, how this has affected demand and led to a price drop across all verticals. The report also provides in-depth insight for industry professionals, examining Australia’s coworkers, what they expect from a workspace, life cycle of the business and what motivated them to make the move. While it seems like there is no end to this constant growth of the sector, the report will also dip into on future of this relatively new market and what it means to operators and tenants alike.