March 1st REA Insights Weekly Commercial Search Report, 2021

After rising to record highs, commercial search volumes are stabilising
After rising to record highs, commercial search volumes are stabilising

Commercial search volumes hold steady

After rising to record highs over the first two months of 2021, the past week has seen commercial search volumes stabilise in both the ‘For Sale’ and ‘For Lease’ site sections of realcommercial.com.au.

‘For Sale’ searches saw a slight week-on-week decline (-0.2%), though remain well up (37.4%) compared to the 12 months prior.

New South Wales has been the largest contributor to growth in buyer searches over the last 12 months (12.5%) followed by Victoria and Queensland.

In contrast, Tasmania and the Northern Territory have continued to see ‘For Sale’ searches contract, with year-on-year volumes down 32.8% and 28.9% respectively.

‘For Lease’ search volumes held steady over the past week, with growth in South Australia and the Northern Territory offsetting declines in the other states.

Compared to 12 months ago, however, commercial lease searches are up 32.8%, with volumes up in all states except the Australian Capital Territory and the Norther Territory.

New South Wales saw the strongest year-on-year growth in ‘For Lease’ searches, up 16.6%, followed by Tasmania (10.8%), Queensland (10.3%) and Victoria (8.1%).

Meanwhile, the past 12 months have seen commercial lease searches in the Australian Capital Territory and Northern Territory record respective declines of 24.8% and 17.6%.