Is the City Calling Again? Professionals Drift Back to Melbourne’s CBD

May 23, 2025

In recent months, there’s been a noticeable shift: professionals are moving back to Melbourne’s CBD and inner suburbs.This trend is influenced by the gradual end of widespread remote work and the desire to reduce commuting times.

While Melbourne’s office occupancy remains below pre-pandemic levels, it has shown improvement. Peak day occupancy reached 75% in early 2024, up from 67% the previous year . This increase suggests a steady return to office environments. (CBRE 2024)

The rental market reflects this shift. Inner-city vacancy rates dropped to 1.3% in May 2024, significantly below the long-term average of 2.6% . Consequently, median rents have risen by 4.8% over the past year. (Urbis 2024)

Suburbs like Southbank, Carlton, and Richmond are experiencing heightened demand, driven by their proximity to workplaces and urban amenities .

This movement indicates a new phase in Melbourne’s urban living, blending the flexibility of hybrid work with the benefits of city life. (Victoria Chamber of Commerce 2023)

Categories: Buy, Sell

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