Growing demand for larger office space

Tuesday 21 October 2014

The demand for larger office spaces is finally beginning to rise. One indicator of leasing, Office Demand Index, has reported over 620,000m² of national leasing inquiry in the September quarter; 51% higher than a year ago. It is reported that the growth in office demand was driven by inquiry for larger spaces of 3,000m² and above.

The other 47% of all inquiry in the quarter was for larger spaces with demand more than double that of 2013. The greatest spike in demand for office space was in Sydney, where demand has more than doubled. These Sydney numbers have been driven by a significant rise (from 29,601m² -114,800m²) in demand for office space in the above 3,000m² market was quoted.

Source: The Australian Financial Review - 21 October 2014

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