January 25th REA Insights Weekly Commercial Search Report, 2021
Commercial search activity hit a record high last week as the 2021 market kicks into gear.
‘For sale’ search volumes on realcommercial.com.au rose by 3.1 per cent last week, hitting a new historic high.
Compared to this time last year, commercial search volumes are up 32.4 per cent.
Australian Capital Territory is the only state//territory in which for sale search volumes are lower than a year ago.
The high level of interest commercial property comes on the back of low COVID-19 case numbers and more Australians returning to workplaces – a trend I expect will persist over the coming weeks.
Commercial lease searches also hit new heights
‘For Lease’ search volumes on realcommercial.com.au also hit a new historic high last week, increasing by a further 3.2 per cent.
Compared to the same time a year ago, lease search volumes have increased by 34.4 per cent.
Lease search volumes have fallen over the year in Australian Capital Territory and are only marginally higher in Northern Territory.
As is the case with ‘For Sale’ searches, businesses returning to workspaces are likely reassessing their requirements and driving online activity higher. In the coming weeks I expect we’ll continue to see higher than usual activity.