REA Insights Commercial Search Report – June 15
Commercial property searches, both from a for sale and lease perspective, increased last week
After a fall the previous week, the volume of searches for properties for sale on realcommercial.com.au increased by 4.6 per cent last week, taking volumes 16.1 per cent higher than they were a year ago.
Searches for commercial properties for sale have now increased for 10 of the past 11 weeks.
Last week, the volume of searches for properties for sale rose across each state and territory ,with the smallest increases recorded in Victoria (0.3%) and South Australia (4.9%) and the largest increases occurring in Australian Capital Territory (18.9%) and Queensland (10.9%).
The volume of searches for commercial properties for sale is higher year-on-year across all states and territories with the largest increases in Australian Capital Territory (84.0%) and Northern Territory (58.2%) and the smallest increases in Tasmania (8.0%) and Queensland (13.0%).
Searches for commercial leases grew by 1.9 per cent last week, which also marked the 10th increase in volumes over the past 11 weeks. Commercial leases searches are now 28.6 per cent higher than they were a year ago.
Tobias Johnstone 9:24 AM
Although nationally lease searches rose over the week, they actually fell in South Australia (-4.5%) and were down in Northern Territory (-9.2%) and Tasmania (-3.4%). The largest weekly jumps were felt in Western Australia (8.6%) and Queensland (1.4%).
All states and territories have seen increases in searches for properties for lease over the year, with modest increases in Australian Capital Territory (9%) and Northern Territory (11.5%) and large increases in New South Wales (30.8%) and Victoria (29.6%).
With businesses seemingly getting closer to going back to more normal working conditions while also looking to reduce costs, I would expect we will continue to see the volumes of searches for commercial properties for rent and for lease will continue to trend higher over the coming weeks.
