REA Insights Commercial Search Report – May 11

The rebound in search activity on realcommercial.com.au continues with for sale and lease search activity lifting last week

Interest in Australian commercial property is slowly growing, with search activity increasing last week by a modest 0.7 per cent.

Western Australia and Australian Capital Territory were the strongest performers last week, while Victoria and Tasmania with saw search volumes decline slightly.

National search activity for commercial properties for sale was 9.9 per cent higher last week than over the same week last year.

Tasmania was the only state or territory where search activity was down year-on-year.

Search volumes for properties advertised for lease increased by 7.7 per cent last week, which was its sixth consecutive weekly increase.

Northern Territory recorded a weekly decline in search activity of more than 15 per cent. However, all other states and territories recored increases, the largest of which were clocked in Tasmania and Western Australia.

Lease search activity is currently 4.2 per cent higher than a year ago.

Tasmania was the only state or territory in which the volume of lease search activity was lower than a year ago, while South Australia and Western Australia recorded the largest increases.

Commercial search activity is lifting, however, it remains lower than it was prior to COVID-19.

It is promising to see that as some of the COVID-19 related restrictions are eased an increasing number of people are searching fro commercial property to purchase and lease.