REA Weekly Commercial Search Report Insights

Overall searches to buy and lease commercial property slowed over week ending May 24 2021, but remain well above 2020 levels.

Year-on-year change in searches for properties for sale.

For-Sale Searches: State-by-State Breakdown

Australian Capital Territory: 9.6% decline

New South Wales: 2.72% declines of 9.6% and 2.7%.

Searches were also lower in Victoria, Tasmania and South Australia.

Western Australia: 1.5% increase

Queensland: 0.5% increase.

Northern Territory: 0.5% increase.

For-Lease Searches

0.9% overall decline over the week, but 11.9% higher than 2020 levels.

Australian Capital Territory: 4.6% increase.

Tasmania: 4.3% increase.

Northern Territory 10.2% decline.

South Australia 3.3% decline.

Year-on-Year For-Lease Search Data

Increase in every state except the Northern Territory with a 3% decline.

Largest increases: Tasmania 20.7% increase and South Australia 13.2%) increase.

According to the REA Report:

While it is to be expected that search volumes will be above the levels seen 12 months ago, when buying and leasing decisions were impacted by COVID-19, the fact that volumes are well above the levels seen in 2018 and 2019 hints at strengthening confidence in the sector.

The recovery of Australia’s economy is continuing to outpace expectations and business confidence is rising. This should help support further growth in commercial search activity over the remainder of the year.

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