Desk Prices in Australian Coworking Spaces Are Going Down | Here’s Why
In Australia, the entire culture of entrepreneurship is based majorly on coworking spaces rather than the private offices and their popularity is growing by every passing day. With the increase in the demand, the supply has also increased to a great extent and it is being said that in Australia, an avalanche of the coworking spaces has occurred. This, in turn, is one of the major reasons why the prices of the coworking spaces in Australia has decreased in a number of places like Gold Coast, Sydney, Brisbane, Melbourne, Perth, Adelaide, Sunshine Coast etc. except for Canberra. While the decrease in the price range has been 10-20% on an average, in Canberra, the rent has increased by at least 40%.
We all know that when the supply of the product meets its demands, then there is a reduction in the price of the product. A similar scenario has occurred in the case of the shared offices in Australia where the coworking spaces have grown by 25% and new desks and office spaces have increased from 3908 in number to 4885 in number.
Coworking Australia – Reducing Desk Prices
Sydney and Melbourne have been breaking the market of coworking with its ever increasing speed of expansion in the arena of coworking community building an in the past two years, it has grown even more. The pricing has decreased because since the options are many, the tenants now have the choice to bid and negotiate on the rental prices. They always know that they have other options to choose from if the prices are not suitable in one place. So the prices are decreasing and becoming feasible for one and all.
Coworking Prices in Canberra, Australia
The situation in Canberra is a bit different as most of the office spaces are supervised by the government and a private space for work is absolutely mandatory for work confidentiality. This is why the demand for coworking spaces in Canberra have not increased unlike other cities of Australia and thus, the rates of shared workspaces over here have increased. The coworking operators are pretty apprehensive about having their spaces in Canberra so coworking is progressing at a very slow pace.
Coworking conditions in Australia
Earlier on the coworking spaces in Australia used to be very clumsy with no decor at all and very low-quality furnishing which was not very appealing to the entrepreneurs. But then, with passing time, global coworking operators took interest in expanding its boundaries in Australia and thus, the coworking spaces became high-end, fully equipped and professionally built to impress the entrepreneurs as well as their clients.