Market Insights: Australia's Flexible Office Space Market Report - Q3 2024
Stay up to date with the latest prices for coworking desks and flexible office space in Canberra, ACT.
Canberra is a thriving business hub, showcasing the best of Australia's economy. The city owes its success to its public sector - with government agencies at the heart of life here – leading to tremendous opportunities in professional services fields such as consulting, accounting and legal firms. Canberra also stands out due to its vibrant technology industry which has a strong presence across defense and cybersecurity sectors.
At $500 per desk per month, office space in ACT is priced well below the national median of $655 per desk.
Median Office Rate Per Person | Median Coworking Desk Rate Per Person | Flex Floorspace Available (sqm) | Available Desk Capacity |
---|---|---|---|
$540 | $380 | 4,260 | 827 |
After rising quickly in Q1, desk rates in the greater Canberra closed the Q2 quarter down 7.4% to $500 per desk in a return to historical averages.
After a slight gain in Q1, available office space fell 28% to 3,900 sqm in Q2.
Desk rates for offices for 1-4 people fell 7% to $500 while rates for larger sized offices with 16-25 desks was up 22% to $730 per desk per month due to limited availability.
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When it comes to availability, 83% of all available offices and 57% of available space is set aside for small teams of up to ten people. This is great for small businesses or startups who prioritise flexibility and features over a long term lease but unlike other major cities, there are no options available for teams larger than 50.
Looking closely at pricing, specifically for space from coworking operators versus more traditional businesses, you'll find a median price of $360 per person for a single desk in a coworking facility compared to $375 for a desk in a traditional business. When it comes to private offices the desk rate at a coworking operator is the same as a traditional business at $500. When you consider that flex space from a coworking operator provides an attractive proposition with extra amenities included - think break rooms, reception support, shared kitchens and even bike storage or shower facilities, you get a lot more for your budget.
Though price is not always the best option to compare coworking operators, as quality and amenities varies across operators and locations, you'll find median prices starting as low as $420 at Haven Workspaces and $540 per desk at Wotso to $540 at Jaga Workspaces and $850 at Work Club.
For companies looking for a further discount on rates, suburbs outside the CBD such as Symonston, Phillip, Dickson and Fyshwick have a range of smaller offices for teams of 10 or fewer people available for a median rate of $500 or less per desk.
Location | 1-4 Desks | 5-10 Desks | 11-15 Desks | 16-25 Desks | 26-50 Desks | 50+ Desks |
---|---|---|---|---|---|---|
Canberra | $600 | $630 | $630 | $1,047 | $740 | - |
Belconnen | $600 | $650 | - | $600 | $500 | - |
Fyshwick | $500 | - | - | $400 | - | - |
Dickson | $500 | $500 | - | - | - | - |
Kingston | $620 | $540 | - | - | - | - |
Phillip | $500 | $500 | $500 | - | - | - |
Symonston | $450 | $450 | - | - | - | - |
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For a wide selection of office space in Canberra you'll find options for teams of 26 to 50 people at a median price of $580 per desk, down 10% from Q4 2023.
For those just looking for a desk, you'll find a number of great deals on coworking spaces in Canberra.
Author: Tom Petryshen, VP Growth & Analytics
Updated: July 10, 2024
As of June 30, 2024 the median price for Canberra office space is $500 per desk per month.
The median cost to rent a dedicated Canberra coworking desk is currently $375 per desk per month.
As specialist brokers in the flexible office market, Rubberdesk is across all the options, offers and availability. We have real time pricing for thousands of spaces listed by hundreds of providers to help find your next office.
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