The Hain report says demand for office space is growing. (photo by Sydney Morning Herald)
According to the Sydney Morning Herald, the Royal Commission of judge Hain (Kenneth Hayne) recently reported that dust had settled as leasing agents prepared for excess office deals and inquiries from potential tenants.
Some companies are expected to look for a break-up of wealth management, possibly in-house mortgage brokers, and anything else that could be seen as conflict.
As regulators step up their scrutiny of banks, there will be an increase in demand for independent regulators and other legitimate operators, all of which will require new office space.
To increase transparency, the report recommends separating banking and wealth management. (Commonwealth Bank of Australia), the Australian federal bank, said it was considering listing or splitting its wealth management business.
Unconfirmed market advice says financial services company security group (AMP) is reviewing its AMP Life, financial and insurance business in order to move into new independent office space.
, AMP Life business became a driving force for CBD office space demand in early 2019, according to a new report from (Colliers International) International.
CBD office research and forecasts for the first half of 2019 found that Australia`s main CBD markets, particularly Sydney and Melbourne, will receive a significant boost in demand.
Thompson (Anneke Thompson), head of international national research at Kli, said: "despite the eagerness of the whole country to look forward to the results of the Royal Commission on Financial Services coming out in early February 2019, But the corresponding impact on the Australian office market has not been commented on by so many people. However, an analysis of the progress data from the tenant Advisory Group shows that Australian finance and insurance are leading the way in our ongoing work, and 18 percent of our work across Australia is related to the industry. "
Job vacancies in finance and insurance were at their highest level since 2009, according to Bureau of Statistics data released in January.
The data suggest that Australia`s main CBD market will receive a further demand boost in tight markets, particularly in Sydney and Melbourne. (Cheng Pui-Yan)
