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Saturday, April 20, 2024

Canberra’s office occupancy rates bounce back

The number of Australians working from the office has bounced back to pre-Omicron levels, with Canberra and Melbourne recording their highest office occupancy levels since June 2021.

The latest Office Occupancy survey by the Property Council of Australia shows that following record low occupancy in January, caused by a combination of Omicron and the holiday period, there was a consistent lift in office workers returning to CBDs across Australia.

In February, Canberra achieved a 21 per cent vacancy rate which was its lowest level since July 2021 when vacancies were at 73 per cent.

Property Council chief executive Ken Morrison said it was pleasing to see “such great results to kick off the year”.

“Given occupancy really bottomed out in January because of the Omicron wave and holidays, it’s heartening to see such a significant turnaround just one month later,” Mr Morrison said.

“There is still a long way to go and there are local factors affecting each city, but these figures are a strong start which we expect to accelerate in March, as more businesses reopen their offices.

“It’s important that governments, councils and business have a big focus on bringing our CBDs back to life.”

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