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NSW commuters who swap long city journeys for working at local coworking spaces just a few days a week can save themselves thousands of dollars annually, according to new data from the International Workplace Group.
Research by International Workplace Group (IWG) has revealed that employees who work from coworking hubs near their homes just two to three days a week, rather than commuting into the city daily, could reduce their annual commuting costs by up to $5,892.
This finding is based on the organisation’s data showing that average daily commuting expenses for employees travelling to the Sydney CBD amount to $75.60 per day, factoring in public transport fares and local parking.
However, IWG discovered that these costs drop significantly to an average of just $26.50 per day when employees work closer to home in flexible workspaces.
For workers following the popular hybrid pattern of two to three local days per week, this equates to average monthly savings of $338, or more than $4,100 per year.
The largest savings are observed among CBD commuters, but IWG’s data also reveals that workers in other areas have experienced substantial benefits.
According to IWG, potential annual savings include $3,532 in Lane Cove, $3,588 in Concord, $2,916 in Balmain, $960 in Parramatta.
The financial appeal of hybrid working comes amid ongoing cost-of-living pressures faced by Australians nationwide.
Having the option and flexibility to work from home has been shown to help employees better manage household expenses, with IWG’s Australian Hybrid Workers Survey revealing that 70 per cent of respondents agree with this sentiment.
The shift towards localised working is being accelerated by broader migration trends.
Data from the Regional Movers Index shows that 64 per cent of Australians leaving capital cities are relocating to suburban or regional areas, which has fuelled demand for coworking facilities outside traditional CBD hubs.
To meet this growing demand, 80 per cent of IWG’s new global openings are now in smaller towns and suburbs, with the company expanding its presence in NSW to locations including Wollongong, Liverpool, Hurstville, and Hornsby.
Mark Dixon, CEO of International Workplace Group, said the trends and data highlight a fundamental shift in workplace expectations, reflecting what today’s workforce truly wants from their jobs.
“With rapid advancements in technology, work is no longer confined to a single location. Companies are empowering their teams to work where they are happiest and most effective, allowing employees to stay productive by working closer to home out of a local coworking space or office,” Dixon said.
He also noted that this decentralisation of work is transforming the role of company headquarters and driving their evolution.
“This shift means employees no longer need to commute long distances daily but can instead benefit from the same or higher levels of productivity by working closer to home. As a result, company headquarters are evolving to become hubs of creativity, collaboration and socialising,” Dixon said.
RELATED TERMS
In a hybrid work environment, individuals are allowed to work from a different location occasionally but are still required to come into the office at least once a week. With the phrase "hybrid workplace," which denotes an office that may accommodate interactions between in-person and remote workers, "hybrid work" can also refer to a physical location.
