Property giants want Australians back in the office, but the data suggests further downsizing is on the way

New new data suggests Australia’s professional class will cling to remote work for months to come, with a considerable percentage of office lease-holders expecting to downsize in 2021.

Now, as Australia stumbles into post-pandemic life, the nation’s $1.2 trillion commercial real estate sector must contend with the fact that some out-of-office emails will be staying on.

Early knock-offs and office enticements

Australia’s office residency remains suppressed. Melbourne’s CBD offices stood just 24% full at the end of February, according to the Property Council of Australia (PCA). 

Sydney’s inner-city offices reported 48% occupancy. While professionals have returned to other metro areas nationwide with more enthusiasm, workplaces are still struggling to hit pre-pandemic occupancy levels. 

Source: Major players in Australia’s commercial real estate sector are pushing for white-collar workers to return to the office, after the coronavirus pandemic emptied city centres and the towers crowding their skylines.