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Australia has one of the most stable economies in the world, making it an ideal location for businesses to set up office space. For the past 24 years, the country has seen uninterrupted economic growth. With its diversified, services-based economy forecast to have average annual real GDP growth of 3.0% between 2015 and 2019, it is a safe bet for businesses hoping to expand into the country in the near future.  

From large, international cities such as Sydney, with one of the leading economies in the Asia-Pacific region, and Melbourne, a chief financial centre, to more affordable alternatives such as Adelaide, Australia has a wealth of options and resources to offer any business. Other popular cities often considered by businesses looking to grow in the region include Brisbane and Perth.

Located close to the Asia-Pacific area, Australia benefits from longstanding trade, investment and cultural links with the fast-growing region. This two-way trade of goods and services totals around 42% of the country’s GDP, with Asia representing over 70% of Australia’s total two-way merchandise trade in the last year.  

The country has an open trade economy, which makes doing business in Australia easier than in many other leading nations. Their well-regulated business environment and huge focus on innovation and development, together with political and economic stability, gives investors confidence and security with foreign investment stock totaling over A$2.6 trillion. 

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The availability and price of office space in Australia varies depending on the city. According to our latest Serviced Office Review for the Asia-Pacific region, the average workstation rate in major cities such as Melbourne has fluctuated in recent years because of the highly competitive market and other economic factors, but as development pushes forward, rates continue to stabilise.

Other large cities, such as Perth, have seen workstation rates remain stable over the past year, with supply keeping pace with increased demand. This consistent growth in the city is largely driven by strong development in the mining industry. Perth’s strong economy and leading position as a hub for business in Western Australia has also contributed to the significant growth in the serviced office market over the past three years.

When looking to set up your business in Australia, be sure to consider the price and availability of office space in the different cities as well as what each can offer your business. Compare Australia’s leading cities in our list of Area Guides or contact us directly.  

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