February 8th REA Insights Weekly Commercial Search Report, 2021
Commercial property searches hit a record high last week, as the 2021 market gathers pace.
Search volumes on the ‘For sale’ section of realcommercial.com.au increased 6% last week to reach a new historic high.
The Australian Capital Territory and South Australia saw the largest proportional rises in for sale searches over the week, up 15.7% and 11% per cent respectively. New South Wales also saw strong growth in demand, up 7.6%.
Conversely, for sale search volumes fell in the Northern Territory (-18.3%) and Western Australia (-3.3%), while the remaining states all recorded a modest rise over the past week.
Nationally, buyer search volumes are now 6% above the previous historic peak, and up 30% from a year ago.
Year-on-year ‘For sale’ search volumes are up in every state, with the largest increases seen in the Northern Territory (73.1%), New South Wales (22.5%) and Victoria (20.6%).
Activity on the ‘For lease’ section of realcommercial.com.au also surged to record levels last week, rising by 10.5%.
Lease searches were up in every state except Northern Territory (-18.9%) and Western Australia (-7.7%).
The Australian Capital Territory saw the strongest growth (13.7%), followed by Victoria (12.6%) and New South Wales (12.1%).
Comparing year-on-year, significant growth in for lease searches has occurred in most states, particularly Victoria (25.5%), Queensland (24.9%) and South Australia (24.8%). Again, Northern Territory and Western Australia trailed the pack, with year-on-year search volumes down 14.2% and 5.9% respectively.
