Market Trends of Australia Co-working Office Spaces Industry
Coworking Spaces are Experiencing Significant Growth
The coworking office spaces have been significantly growing over the years. In addition, Sydney and Melbourne led this segment by offering many coworking spaces in the previous year.
Meanwhile, Sydney remained a major location in the country, with most businesses moving to coworking and shared offices. It was followed by Melbourne, the second-largest coworking market in Australia, with shared offices attracting a wide range of tenants, including major corporations, government organizations, and startups.
Most freelancers, startups, and small- and medium-scale enterprises (SMEs) are adopting coworking spaces because they provide top features and facilities such as fast internet services, 24/7 access to office space, meeting rooms, furnished and unfurnished spaces, etc.
By the second quarter of 2023, Sydney boasted the highest average monthly price for a desk in a flexible office space among Australia's capital cities, at AUD 980 (USD 636.81). In contrast, the average monthly price for a desk in a coworking space in Canberra stood at around AUD 500 (USD 324.90)
Sydney is Witnessing Growth in the Market
Sydney is the major location for the development of coworking spaces in the country. The market in Sydney is experiencing significant growth as many enterprises are moving toward coworking spaces to meet social distancing requirements, reduce space, and save costs.
Coworking spaces are witnessing a surge in popularity in Sydney, driven by the demand for cost-effective office solutions from freelancers and small businesses. These spaces, known for their ample natural light, comprehensive amenities, and lively ambiance, have emerged as hubs for fostering collaboration and fueling creativity.
Fishburners, situated in Sydney's tech hub Ultimo, stands out as a highly sought-after coworking space in the city. Beyond providing workstations, Fishburners boasts dedicated meeting rooms and break-out areas, fostering team building and casual discussions.
Additionally, the space houses an on-site cafe, serving fresh food daily. It is a prime choice for professionals seeking a vibrant work environment and ample networking prospects.
Central Working Sydney provides its members with access to a private workspace lounge. This lounge is thoughtfully designed, featuring comfortable couches and contemporary furniture, creating a welcoming ambiance akin to a home away from home.
