Market Insights: Australia's Flexible Office Space Market Report - Q3 2024
Compare prices for office space in Inner Sydney vs North Sydney vs South Sydney to find the best deals for your business.
With 33,810 sqm of flexible office space, Sydney leads the way in available flexible space for rent in Australia. While the slower economy has been largely responsible for adding new supply to the market over the past 2 years, the trend has started to reverse as demand has picked up and operators have found it more more challenging to open new centres. However, with continued inflationary pressure and uncertain times keeping many businesses from booking long term leases, we expect flex space inventory to grow over the long term as landlords look to offload unleased space.
The increased demand and reduced supply over the past two quarters, of course, had an impact on prices with desk rates reaching a new high of $1,045 in February before settling to $1000 per desk at the end of September; a 7% increase over Q2.
Median Office Rate Per Person | Median Coworking Desk Rate Per Person | Flex Floorspace Available (sqm) | Available Desk Capacity |
---|---|---|---|
$1,000 | $600 | 33,810 | 6,004 |
As the primary business centre for many Australian head offices, the Sydney CBD also has some of the pricier rents before discounts. Typically, the median price per person for larger offices is higher since these roomier spaces are often fully enclosed, on a dedicated floor, and/or have their own amenities and meeting rooms included.
However, over the past year demand for smaller offices for teams of 5 to 25 people has outstripped demand for much larger offices pushing prices for these smaller offices up 5% over the past year. Larger offices for teams of 50 or more have a median rent of $800 per desk per month while offices for 16-25 staff have a median rent of $1,016 per desk.
There are plenty of other coworking spaces on the city fringes where you can quickly set up shop including North Sydney, St Leonards or North Strathfield, all of which represent real value. And for smaller businesses that need to be closer to the downtown core, Pyrmont, Chippendale, Paddington, and Bondi Junction all provide flexible office space a little more budget-friendly.
From the Northern Beaches to Sydney Inner and Outer West, and South Sydney to the Eastern Suburbs, Sydney has office space for rent in over 70 bustling suburbs to choose from, starting as low as $260 per person per month.
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As the largest city in Australia, Sydney also has the most options for flexible office space as well as the highest rents in the country. Though for smaller teams there are plenty of good affordable options in Pyrmont, Glebe, Ultimo and Potts Point.
Location | 1-4 Desks | 5-10 Desks | 11-15 Desks | 16-25 Desks | 26-50 Desks | 50+ Desks |
---|---|---|---|---|---|---|
Sydney | $1,000 | $1,037 | $1,125 | $1,000 | $872 | $800 |
Barangaroo | $1,102 | $951 | - | $2,006 | $1,488 | $1,400 |
Pyrmont | $550 | $550 | $423 | - | $570 | $354 |
Darlinghurst | $931 | $900 | $815 | $812 | $825 | $780 |
Surry Hills | $726 | $935 | $1,000 | $696 | $650 | - |
Haymarket | $480 | $697 | $708 | - | $840 | $1,106 |
Chippendale | $775 | $775 | - | - | - | - |
Ultimo | $546 | $263 | - | - | - |
Source Rubberdesk. The median price is shown per person per month based on a 12-month term
Within close proximity of the city centre, Pyrmont has a number of options for teams of 2 to 50+ at prices between $354 to $570.
Located just across the Sydney Harbour Bridge, North Sydney provides a wide range of offices for small teams to larger companies with more than 50 staff at very reasonable rates. For smaller teams of up to 10 people, Crows Nest and St Leonards provide great opportunities. Finally, Chatswood is a great option for teams at $500 to $931 per desk.
Location | 1-4 Desks | 5-10 Desks | 11-15 Desks | 16-25 Desks | 26-50 Desks | 50+ Desks |
---|---|---|---|---|---|---|
North Sydney | $615 | $663 | $479 | $475 | $500 | $431 |
Neutral Bay | $634 | $550 | - | - | - | - |
Crows Nest | $477 | $475 | $475 | - | - | - |
St Leonards | $599 | $599 | $289 | - | - | - |
Chatswood | $684 | $800 | - | $500 | $931 | - |
Lane Cove North | $234 | |||||
Pymble | $350 | - | - | - | - | - |
Source Rubberdesk. Median price is shown per person per month based on 12-month term - January 1 2024
Directly West of Sydney’s Central Business District, the Inner West suburbs of Sydney offer plenty of options for smaller teams in Balmain and Newtown and a few for teams up to 20 in Bankstown.
Location | 1-4 Desks | 5-10 Desks | 11-15 Desks | 16-25 Desks | 26-50 Desks | 50+ Desks |
---|---|---|---|---|---|---|
Balmain | $585 | $585 | - | - | - | |
Newtown | $460 | $350 | - | - | - | - |
North Strathfield | $600 | $500 | $500 | - | - | - |
Bankstown | $709 | - | - | $785 | - | - |
Source Rubberdesk. Median price is shown per person per month based on 12-month term - March 31 2023
If trendy restaurants, relaxed pubs and cafes are on your list of amenities, then Balmain has it and plenty of flexible office space for teams up to 15 people.
A popular area for tourists, the Northern Beaches, especially Manly have become a bit of a hotbed for coworking offices as locals look to work closer to home and reduce their commute. Manly has a number of options for teams of up to 10.
Location | 1-4 Desks | 5-10 Desks | 11-15 Desks | 16-25 Desks | 26-50 Desks | 50+ Desks |
---|---|---|---|---|---|---|
Manly | $600 | $562 | - | - | - | - |
Brookvale | $770 | $770 | - | - | - | - |
North Narrabeen | $500 | - | - | - | - | - |
From Edgecliff to Botany, there are small private offices for teams of 20 across the Eastern Suburbs at all price brackets.
Location | 1-4 Desks | 5-10 Desks | 11-15 Desks | 16-25 Desks | 26-50 Desks | 50+ Desks |
---|---|---|---|---|---|---|
Edgecliff | $550 | $660 | - | - | - | - |
Double Bay | $575 | $353 | - | - | - | - |
Woollahra | $621 | - | - | - | - | - |
Bondi Junction | $800 | $800 | $905 | - | - | - |
Randwick | $667 | $565 | - | $500 | - | - |
Maroubra | $863 | - | - | - | - | - |
Botany | $483 | $458 | - | $500 | - | - |
Source Rubberdesk. The median price is shown per person per month based on a 12-month term
At only 11km from the Sydney CBD and right next door to the Sydney Airport, Botany is the ideal location for those needing to catch a quick meeting in the city centre or catch flight.
With Australia’s second oldest and 6th largest city, Parramatta has the most options for small teams up to 15 in Western Sydney followed by Blacktown and Baulkham Hills.
Location | 1-4 Desks | 5-10 Desks | 11-15 Desks | 16-25 Desks | 26-50 Desks | 50+ Desks |
---|---|---|---|---|---|---|
Parramatta | $670 | $800 | $708 | $700 | $700 | - |
North Parramatta | $766 | $450 | - | - | - | - |
Baulkham Hills | $902 | $680 | - | $784 | - | - |
Fairfield | $556 | - | - | |||
Seven Hills | $225 | - | - | - | - | - |
Blacktown | $300 | $400 | - | - | - | - |
Penrith | $600 | $600 | $400 | - | - | - |
Source Rubberdesk. The median price is shown per person per month based on a 12-month term
A major business and commercial centre in its own right, Parramatta, is Australia's second oldest city after Sydney. As a major commercial hub, there are a growing number of flexible office spaces available for teams up to 15.
If your business is planning to reduce travel times for staff and wishes to set up a hub in Southern Sydney, there are some good options for teams up to 10 in Zetland.
Location | 1-4 Desks | 5-10 Desks | 11-15 Desks | 16-25 Desks | 26-50 Desks | 50+ Desks |
---|---|---|---|---|---|---|
Rosebery | $1,150 | $367 | - | - | - | - |
Alexandria | $685 | $620 | - | - | - | - |
Zetland | $600 | $600 | $550 | - | - | - |
Marrickville | $666 | - | - | - | - | - |
Mascot | $612 | $625 | $627 | - | - | - |
Banksmeadow | $750 | - | - | - | $130 | - |
Oatley | $433 | - | - | - | - | - |
Caringbah | $349 | - | - | - | - | - |
Source Rubberdesk. The median price is shown per person per month based on a 12-month term
Formerly known as Australia's largest industrial district. Alexandria is a great location for those businesses needing fast access to catch a flight or head into the CBD for a meeting. Select from a number of flexible offices spaces for your next office.
From Wollongong in the South to Twin Heads in the North and Broken Hill to the West, Rubberdesk provides flexible office space for small businesses of all types across NSW. Find the right private office for your team.
City | 1-4 Desks | 5-10 Desks | 11-15 Desks | 16-25 Desks | 26-50 Desks | 50+ Desks |
---|---|---|---|---|---|---|
Wollongong | $477 | - | - | - | ||
Mittagong | $811 | - | - | - | - | - |
Tamworth | - | $500 | - | - | - | - |
Yamba | $400 | - | - | - | - | - |
Billinudge | - | - | - | - | - | - |
Tweed Heads | $600 | $238- | - | - | - | - |
Source Rubberdesk. All prices shown exclude discounts and offers. Talk to us about the latest offers available.
As the third-largest urban area in NSW, the Central Coast is just over an hour from Sydney. While it has been quite common for employees to commute to Sydney from the Coast via train, a number of flexible office operators now make it easier than ever to grab a desk or a small private office to cut down on the commute.
City | 1-4 Desks | 5-10 Desks | 11-15 Desks | 16-25 Desks | 26-50 Desks | 50+ Desks |
---|---|---|---|---|---|---|
Charlestown | $725 | - | - | - | - | |
Newcastle West | $600 | $600 | - | - | - | - |
Newcastle | $400 | $520 | - | - | - | - |
Hamilton | - | - | - | - | - | - |
Source Rubberdesk. All prices shown exclude discounts and offers. Talk to us about the latest offers available.
Whether its Newcastle or Charlestown you'll find the right type of office for your team.
Author: Tom Petryshen, VP Growth & Analytics
Updated: November 5, 2024
As of September 30, 2024, the median price for Sydney office space was $1000 for a single person, up 7% from Q2, 2024.
The median cost to rent a Sydney coworking desk is currently $600 per desk.
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