Workplace movements have never been more topical than in the post-COVID years, and in the coming months Knight Frank will reveal the very latest trends in Australian and New Zealand workplaces as it completes its first (Y)OUR SPACE survey focused solely on the ANZ region.

This year corporate business respondents will be surveyed on how much space they currently occupy, and what their occupancy is across the working week on average relative to the capacity of the office space, looking at which days more people are in the office.

The (Y)OUR SPACE survey will also determine how many respondents have a return to office mandate in place, and what the workplace movements of Australian corporate businesses have been, as well as how they use their workplaces as a strategic device to meet other commercial objectives.

It will look at what companies are prioritising in work space amenities, design and location, as well as respondents’ future plans over the next three years in regards to meeting staff demands, sustainability targets, and the drivers behind portfolio decisions. 

2024 Survey

Last year’s Australian survey results found more Australian corporate businesses planned to increase or maintain their existing office space requirements over the next three years than those planning to downsize.

A total of 57% of businesses surveyed in Australia indicated they would upsize (45%) or maintain the same space (12%), compared to 45% saying they would decrease their size requirements. These results were a notable increase from 2021, where global results indicated a larger proportion of businesses were considering downsizing as they navigated the challenges of remote work and economic uncertainty.

Australian corporate businesses also were found to be more office centric, with the majority of respondents envisioning a hybrid approach to workplace strategy (63.3%), while only 6% expected that remote working would be the predominant workstyle, while 24% stated they would have an office-first approach.

When finding the right office space, occupiers indicated the most important objectives were increased collaboration, employee wellbeing, and talent attraction and retention.

The 2023 Australian findings from Knight Frank’s (Y)OUR SPACE report reflected the global findings, which were released last year.

Knight Frank | Cresa's global (Y)OUR SPACE report, published every two years, is one of the world’s most comprehensive surveys of international businesses on their workplace strategies and real estate requirements. It reflects the priorities and challenges of senior leaders responsible for real estate decisions at over 350 firms, which collectively employ more than 10 million people.

With ongoing advancements in flexible work models, sustainability initiatives, and the integration of smart technologies over the past year, it will be interesting to see this year’s Australian survey results, to see how workplaces have evolved over the past year to enhance workplace efficiency and the employee experience.

Have a say in the future of Australian workplaces by spending 12 minutes participating in the survey – you can find it here.