$27.6bn
$XX.Xbn
45,488
57,061
$X.Xbn
Office property operators have faced challenging conditions over the past few years. Profit margins have failed to recover after the pandemic, with new hybrid working models rendering their operations unviable. The number of non-manual employees in the workforce and private sector capital expenditure have both lifted, partially slowing plummeting overall demand. Downtrodden business confidence has considerably dulled performance. The pandemic hit many businesses’ financial outlook across the country. Economic uncertainty led to negative business confidence, discouraging downstream firms from expanding their operations or acquiring office space. This has meant that revenue is expected to drop at an annualised 9.1% to $27.6 billion over the five years through 2023-24. This trend includes an anticipated fall of 8.9% in 2023-24. The cash rate has escalated to unexpected heights, discouraging investment and making it less affordable for office property operators to develop new sites for office space.
Industry revenue has declined at a CAGR of 9.1 % over the past five years, to reach an estimated $27.6bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 |
---|---|---|
Mirvac | 667.9 | |
DEXUS Property | 652.8 | |
AMP | 46.8 |
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Industry revenue is measured across several distinct product and services lines, including A-grade offices, B-grade offices and Premium-grade offices. A-grade offices is the largest segment of the Office Property Operators in Australia.
Premium-grade offices have been a rare safe haven for the industry
Office property operators mainly lease or rent office property.
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ANZSIC 6712 - Office Property Operators in Australia
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Working-from-home trends have diminished demand for office space. Downstream customers have been demanding less office space, reflecting poorly on office property operators’ ...
Learn about an industry's products and services, markets and trends in international trade.
Well-placed premium offices have kept office property operations lucrative. High-end offices offer the greatest returns and are slowest to lose underlying asset value.
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Canberra contains a large proportion of the government market. Since government tenants enter long-term contracts, the Australian Capital Territory’s share of operators is pr...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Offices in tantalising locations more easily generate successful business contracts. If offices are closer to public transport or skilled labour pools, they're more desirable...
Learn about the performance of the top companies in the industry.
The Office Property Operators industry has no major players. The industry has many individual and non-employing investors, and the industry's size limits large firms' ability...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Office property operators need to pay attention to zoning regulations. They refer to council zoning developments when seeking to buy new property, while government taxes are ...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
A tendency for office property operators to outsource labour has kept wage costs low. Automating certain processes has minimised expenses, with operators fighting to lower la...
Including values and annual change:
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Key data sources in Australia include:
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The market size of the Office Property Operators industry in Australia is $27.6bn in 2024.
There are 57,061 businesses in the Office Property Operators industry in Australia, which has declined at a CAGR of 1.3 % between 2019 and 2024.
The market size of the Office Property Operators industry in Australia has been declining at a CAGR of 9.1 % between 2019 and 2024.
Over the next five years, the Office Property Operators industry in Australia is expected to grow.
The biggest companies operating in the Office Property Operators market in Australia are Mirvac, DEXUS Property and AMP
Premium-grade offices and A-grade offices are part of the Office Property Operators industry.
The company holding the most market share in Australia is Mirvac.
The level of competition is high and steady in the Office Property Operators industry in Australia.