Workers Return to Sydney CBD Offices in NovemberNovember 27th, 2022Connor Dixon
As the use of Human Movement Data (from mobile devices) increases within the property industry, it's important to distinguish that propella.ai''s Worker Activity Index ("WAI") measures the activity of office workers within office buildings, not just the general activity of people (including visitors and residents) within a general area. WAI is a new measure of demand developed specifically for the office sector.
As previously reported, the WAI showed that the rate of workers returning to Sydney CBD office buildings had peaked in June 2022 at a WAI of 10.
By comparison, Sydney CBD office buildings had an average WAI of 19 in early March 2020, just prior to the impact of COVID. In other words, Sydney CBD office buildings had peaked at just over 50% of pre-COVID worker activity in June 2022.
The Sydney CBD WAI then dropped back and stabilised at around 8 from July to October 2022 (just over 40% of pre-COVID activity).
We're excited to share some positive news of a recent increase in WAI in Sydney CBD office buildings. As per the graph above, the WAI has increased back up to 10 as at the week ending 28 November. This is equal to the highest level observed so far in 2022.
We anticipate further WAI increases in Sydney and Melbourne office buildings throughout December. As subscribers to propella.office you can keep a keen eye on weekly Worker Activity updates for CBDs, PCA precincts and your individual office buildings in Melbourne and Sydney.