The persistent 'flight to quality' creates a profound and escalating challenge for owners of older, non-prime office buildings. As corporates from high-value sectors consolidate into modern, ESG-compliant buildings, the demand for secondary space contracts to smaller local businesses, back-office functions and start-ups - all of which are highly price sensitive and have more options.
While Australia's work-from-home debate has increasingly become a tug-of-war between office and home, there is a growing number of employers who've found a middle ground, providing the best of both worlds for both their workers and their business. Following the pandemic, Australia saw a seismic shift in the way people worked, and new data shows more than six million people are working from home, at least some of the time.