REA Insights Commercial Search Report – May 18

The weekly rate of growth in searches for commercial leases is outstripping searches for sale.

The latest weekly search data from realcommercial.com.au shows that for sale searches increased for their seventh consecutive week. However, the rate of growth is slowing, increasing to just 0.1 per cent over the week – up 8.8 per cent compared to a year ago.

For sale search activity last week was the highest it has been since late February of this year.

Across the states and territories, weekly search fell last week in Victoria, Northern territory and Australian Capital Territory. In all other states search rose with the largest increases in Tasmania, Queensland and South Australia.

For sale search activity was higher year-on-year across all states and territories with the greatest increases recorded in Northern Territory and Tasmania and the smallest increases in Queensland and Victoria.

Weekly lease searches on realcommercial.com.au increased by 7.4 per cent and is now 9.9 per cent higher year-on-year.

Australian Capital Territory was the only state or territory in which lease searches fell last week, while Queensland and Western Australia recorded the largest increases.

Compared to the same week a year ago, lease search volumes were lower in Northern Territory and higher in all other states and territories, with the largest increases recorded in South Australia and Western Australia.

The data is pointing to a slowdown in search activity for properties for sale while lease search is continuing to rise fairly rapidly.

This is perhaps reflective on an environment whereby those who are most active are those looking for more cost effective or smaller premises to lease.