November 9th REA Insights Weekly Commercial Search Report, 2020
Good news for Tasmania here as together with the Northern Territory we are experiencing the largest increases in commercial property national buyer searches.
For sale and lease search volumes recorded another moderate fall last week.
The latest realcommercial.com.au data shows that the volume of buyer searches fell for the second consecutive week last week, down -1.0 per cent.
While national buyer search volumes fell last week, only New South Wales (-2.0%), South Australia (-2.8%) and Australia Capital Territory (-1.7%) recorded declines, while the largest increases were recorded in Northern Territory (15.6%) and Tasmania (7.2%).
Nationally, for sale search volumes are currently -4.0 per cent lower than they were at their historic peak, with Northern Territory the only state/territory still at an all-time high.
Relative to their historic peak, for sale searches are furthest away currently in Tasmania (-14.2%) and Australian Capital Territory (-10.3%) and closest in New South Wales (-2.0%) and Western Australia (-3.3%).
Compared to the same time last year, buyer search volumes are currently 20.7 per cent higher and up across all states.
The largest year-on-year increases in for sale searches have been recorded in Northern Territory (147.4%) and Australian Capital Territory (91.8%) and the smallest in Victoria (8.7%) and Queensland (18.8%).
Lease search volumes fell for their second consecutive week last week, down -4.2 per cent which was their largest weekly fall in 13 weeks.
Only Tasmania (0.1%) and Northern Territory (3.1%) recorded weekly increases in lease search volumes, while the largest falls were recorded in Victoria (-6.6%) and South Australia (-5.4%).
The volume of lease searches last week was -9.5 per cent lower than its historic peak and down across each of the states.
The smallest overall falls in lease search volumes have occurred in Northern Territory (-9.7%) and Queensland (-9.8%) and the largest in Tasmania (-26.5%) and Australian Capital Territory (-22.3%).
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