REA Insights Commercial Search Report – June 1
Despite most office employees working from home, interest in commercial properties to purchase and lease is continuing to grow.
With many businesses re-assessing their tenancy needs in light of the COVID-19 pandemic we would expect that interest in commercial properties for sale and rent is likely to continue to rise over the coming weeks.
The latest data shows that searches for properties for sale on realcommercial.com.au are up 3.8 per cent on last week and 13.4 per cent higher than they were a year ago.
Leading the pack is the Australian Capital Territory where searches jumped more than 17 per cent last week. However, searches fell in Queensland and the Northern Territory while Tasmania was flat.
Year-on-year searches for properties for sale are higher across the board with Queensland and Tasmania recording the smallest increases and Northern Territory and Australian Capital Territory recording the largest increases.
The volume of searches for properties advertised for lease on realcommercial.com.au increased for their ninth consecutive week last week, with search volumes 5.4 per cent higher over the week and 22.9 per cent higher year-on-year. The 22.9 per cent year-on-year increase is the largest rise on record.
Lease search volumes were higher across all states and territories, except for Northern Territory, over the week while Australian Capital Territory recorded the largest rise.
Year-on-year search volumes are higher across all states and territories with Australian Capital Territory recording the smallest increase while New South Wales has seen the largest rise.