The Stats that Prove Coworking is Here to Stay

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Coworking offices will make up a third of all offices by 2030

• Commercial real estate services firm JLL Research is predicting a revolution in flexible or coworking spaces, with a large shift of workers turning to these work environments. This change comes as attention continues to move away from traditional offices, and by the end of next year, this trend is expected to have really hit home in Australia.
• While the model has been popular with freelancers and start-ups, increasing numbers of small to medium corporates are taking advantage of this opportunity as well.
• Global research shows that there was a 21 percent rise of corporates adopting coworking spaces in 2018 alone, on a global scale.
• The latest JLL research shows that 30 percent of all active employees in the workforce are likely to use a coworking space by 2030.
• These ecosystems are already flourishing in areas across the Asia-Pacific region, with Bangalore boasting a 15 percent occupation rate.

More coworking spaces were leased in Australia in 2018 than in the previous three years combined

JLL’s detailed research also highlighted the Australian boom within the industry, with figures showing that 2018 saw more coworking spaces leased in comparison to 2015 to 2017 combined.

While the Sydney and Melbourne CBDs made up the majority of these occupancies, there has also been an increase in other markets throughout Brisbane, Perth, and Adelaide.

The numbers in action: number of coworking leases active by year

2015

2016

2017

2018

2015-18 total

Melbourne

8200

6900

7500

31,700

54,300

Sydney

3000

15,100

1600

21,700

41,400

Brisbane

3600

4700

10,800

19,100

Perth

1100

1100

Adelaide

1100

1300

2400

Canberra

2000

1400

3400

Around the world, the trend is rising exponentially as well. In fact, the adoption of these spaces is expected to continue at a rate of at least 13 percent each year. Outside of the US, this growth has seen an increase of 36 percent in 2018 alone, leaving a lot to look forward to.

Read More About Navigating the Choice Between Office Leasing and Coworking

Growth is set to expand outside of capital cities

• At present, coworking spaces are primarily located in capital cities in most global markets.
• However, more destinations are already opening in secondary cities.
• Across EMEA (Europe, the Middle East, and Africa), for example, there was a 15 percent rise in growth for secondary cities in 2018, while the United States experienced a 20 percent boom in the same period.

It is not just young people using coworking spaces

• There’s often a misconception that coworking spaces are the domain of millennials, but even senior generations are embracing the concept as well.
• The Sydney Morning Herald recently unveiled a case study on Peter Mayne, the founder of Maybe Capital. At 70, he is running his latest $1.5 million business exclusively from a shared space.
• Statista figures show that the global volume of workers over 60 moving to shared spaces had increased from 10,000 in 2016 to over 40,000 in 2017. In 2018 and 2019, this figure has significantly exploded.

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As the trend of coworking spaces continues to rise globally, driven by flexibility, collaboration, and economic efficiency, there has never been a better time to explore these dynamic environments. Whether you’re a freelancer, a startup, or part of a large corporation, United Co.‘s coworking spaces in Fitzroy offer the perfect mix of community and professionalism to boost your business’s growth and networking potential.

Interested in experiencing the benefits of coworking firsthand? Contact United Co. today to discover how our coworking spaces can transform the way you work and connect with like-minded professionals. Let’s make your workday as innovative and inspiring as possible. Join us at United Co., where your best work happens.