Industry Analysis & Industry Trends
The flexibility of serviced offices has galvanised their position in the office property market. Catering to clients looking for prestigious locations minus the hassle of locking into a 10-year contract, serviced office lessors have been able to generate growth close to 33% in the last decade. As corporate activity surged, the dearth of office property vacancies was a boon for industry participants.
However, this boom was short lived as the financial crisis swept through the country. As businesses scrambled to salvage their operations, firms scaled down their workforce and delayed projects. Across Australia, as tens of thousands of Australian workers were made redundant, the need for additional floor space declined dramatically... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
Over the 10 years through 2017-18, industry value added is forecast to grow at 0.9%. Relative to the projected 10-year annualised growth of 2.4% over the same period, the industry is classified as a growth industry.
Further crucial to this classification, the number of establishments is projected to grow at 3.1% over the same period. Enterprises will likely seek out new operating locations to cater to demands for increasing workplace flexibility and increasing number of microenterprises. Contributing to this growth is the culture change taking place in large organisations... purchase to read more