News

Office Occupancy Rates Doubles in Most CBDs

OFFICE • April 6, 2022

The Property Council of Australia's latest Office Occupancy survey revealed positive signs in the return to CBD offices as occupancy rates in Melbourne, Sydney, and Canberra more than doubled over March 2022.

The March survey found that Melbourne’s occupancy increased from 15 per cent to 32 per cent, 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.

“It's heartening that people are returning to the office, particularly given considerable weather events on the east coast impacted people’s ability to work in the CBD," Property Council of Australia Chief Executive Ken Morrison said the data was encouraging.

“To see office occupancy rates double in some of our major CBDs is especially pleasing, and bodes well for further recovery in the months ahead. We hope to see this trend continue.” he said. 

 

Office Occupancy rates:

 

Melbourne CBD

Sydney CBD

Perth CBD

Canberra

Brisbane CBD

Adelaide CBD

Nov-21

12%

23%

77%

17%

63%

73%

Jan-22

4%

7%

66%

7%

13%

11%

Feb-22

15%

18%

55%

21%

41%

47%

Mar-22

32%

41%

45%

45%

48%

61%

 

 

Figures are based on responses from Property Council members who own or manage CBD office buildings and cover occupancy for the period from 24-31 March 2022.