Demand for flex workspace in Brisbane decreased 31% during the third quarter this year, compared to the same period last year, according to the Instant Group. 

“Demand for flex space in Brisbane dropped in Q3 compared to last year, when the city had high stock levels and high vacancies, plus a hot sub-leasing market which drove demand up. We are however seeing Brisbane pick up again in Q4,” said Daniel Tyson-Jones, Regional Director, Client Solutions – ANZ at The Instant Group.   

In Brisbane, the average cost-per-desk for flexible workspace in Brisbane increased 8% year-on-year in Q3.  

On the supply side, the number of flexible workspace centres in the Queensland capital city also rose 5% during the quarter. 

In Sydney and Melbourne, demand for flex workspace increased 14% YOY in Q3.  

Source: Instant Group

The average cost-per-desk for flexible workspace in Sydney increased by 5%, while rates in Melbourne decreased by 5% over the same period. 

The number of flexible workspace centres grew in 7% and 2% in Sydney and Melbourne. 

“The flexible workspace market has shifted in 2022 compared to pandemic years, with interest returning to key business hubs like Melbourne and Sydney as we continue to live and work with no lockdowns,” said Tyson-Jones. 

The Instant Group is a digital marketplace for flexible workspace solutions, including meeting rooms, virtual offices, flexible office bookings, and more.  

Source: Instant Group

The findings come as Brisbane led the way in the number of workers heading back into the office in September, with office occupancy lifting in most CBDs, according to the Property Council of Australia.    

Brisbane occupancy jumped from 57% to 70%, while Adelaide saw occupancy increase from 71% to 78%, as Perth occupancy lifted from 69% to 76%.  

Occupancy rose in Melbourne from 39% to 41%, while occupancy rates in Sydney remained steady at 52%. In Canberra occupancy dropped from 64% to 54%.   

The PCA survey found that office occupancy rates continued to vary strongly between peak and low days. Peak occupancy days in Perth reached 84%, but on a low day it fell to 68% while in Melbourne it was 25%.   

Daniel Tyson-Jones