The Property Tribune

Work from home is here to stay, and Australia’s secondary offices are at a turning point

Secondary office assets face challenges with poor uptake and declining values, especially in B and C-grade properties.

Record rates exceeding $1,500 per night observed near venues hosting major events like Blink 182 and Taylor Swift.

Commercial property market faces challenges, but discerning buyers can expect ample opportunities in the coming 12 months.

Beds, especially in built-to-rent, student accommodation, and tourism assets, are expected to drive demand in 2024.

Remote work’s popularity poses challenges for office owners, pushing unconventional solutions like pet-friendly spaces to entice employees.

Commercial assets have faced volatility recently, driven by financing changes and demand fluctuations from institutions and funds.

Accommodation and food services sector sees remarkable quarterly and annual growth rates, notably driven by hospitality’s two award hikes.