RTO v WFH
Companies are trying hard to get their workers to return to the office, and Sydney's CBD certainly feels busier. But there's plenty of data showing it's too early to declare the death of WFH.
If the lines for lunch in Sydney’s financial district are anything to go by, then the push to get workers to return to offices seems to be working.
Anecdotally, it feels like the CBD in the Harbour City is pretty busy again, at least on any day of the week that is not a Friday. Trains are full, traffic is clogged and it takes longer than it should to get a banh mi at lunch time. At least in the part of town where Capital Brief is based...
Yet it is definitely too early to declare the death of WFH. Even if it feels like Sydney is getting close to full again, plenty of data points suggest otherwise.
Vacancy rates have been rising, according to recent figures from JLL Research, as large firms in the finance and tech sectors cut back on space significantly. In Melbourne it is even more pronounced, with vacancy rates hitting their highest levels since 1998, according to JLL.
