Media release | 12 April 2021 | Sydney, AUSTRALIA
Office Hub, the world’s leading marketplace for flexible workspace, just launched the last ever annual Coworking Market Report. Replacing the annual report is Co-Stats, the world’s first live reporting platform for the flexible workspace industry.
Covid-19 showed the world that annual reports are only as good as the next pandemic. Flexible workspace statistics are extremely volatile to supply and demand changes, Co-Stats is a free-to-access platform reporting monthly on all the data for any location in the click of a button.
“Our Proptech platform has combined over 60,000 listings and 50,000 tenant searches to generate rich statistical data on the supply of flex space, the persona of the tenant search and the values of the deals that complete.” says Grant Philipp, CEO & Founder of Office Hub.
“Our Proptech platform has combined over 60,000 listings and 50,000 tenant searches to generate rich statistical data on the supply of flex space, the persona of the tenant search and the values of the deals that complete.”
- In April 2020, demand for flex space dropped by 82 per cent and deals won down 91 per cent
- Annual decline of demand for flex space by 7.1 per cent
- Average annual discount applied to flex space listings was 14.9 per cent
- The average desk price dropped to $577 per month
- 80 per cent of all spaces applied a discount to their available spaces
- 79 per cent of all tenant searches needed space for 1-5 people
- 46 per cent of all companies looking for space had no current business address
- $18,137 was the average contract value
- 3.2 desks was the average size of signed agreement
- 61 per cent of all listings were peer-to-peer shared
- 85 per cent of Office Hub enquiries requested private office space
- Ground floor and no lifts in suburbia saw sublets overtake the demand for coworking/serviced office sector with 54 per cent of deals heading to this category.
“2021 will be the biggest year for flexible space ever as the world emerges from Covid and businesses close off on their strategy to house their teams. With Co-Stats you don’t have to wait an entire year for the next report to find out how the industry did, we have it live, online and free for everyone to share” says Grant Philipp.
“2021 will be the biggest year for flexible space ever ..."
Office Hub's Co-Stats tracks and reports on the entire flexible workspace market in real time so you always have access to the latest statistics, numbers and results for the coworking industry. Co-Stats data is updated dynamically on a monthly basis so you can search for the facts you need, when you need them. Launched in 2021 and evolving every minute.
About Office Hub
Founded in 2014, Office Hub is the world’s leading marketplace for coworking, serviced and shared offices. It’s a homegrown Aussie business with one simple goal: revolutionise the way people rent commercial space around the world. Specialising in Proptech, Office Hub offers a free independent service to help people find the perfect flexible workspace for their business, powered by next-generation technology and an award-winning service team.
Notes to Editor
For further information, images and interview requests, please contact Office Hub Marketing Department:
T: 1300 770 200
M: +61 401934182