The interest in commercial property continues to increase, with the latest data from REA suggesting buyers are still honing in on commercial assets all around Australia. Investors looking at purchasing commercial property have increased by 22% compared to the same time last year 2021, according to REA data.
Search volume for commercial property on REA portals increased in every state over the past 12 months. South Australia saw the biggest jump in search volume for commercial property, followed by Victoria and Queensland. For the most part, demand has remained strong in all states, including those impacted by lockdowns. However, REA also noted that leasing demand was lowest in NSW and the ACT, which have been hurt by state-wide shutdowns.
Interest in Medical and Industrial Properties Remain High
Since the start of COVID lockdowns, medical properties have garnered significant interest, and this is still the case heading into 2022. REA notes that medical properties have seen the most views per listing last month, up 11%. However, over the past year, industrial property continues to be the standout performer. The average views per listing of industrial properties around the country are 91% higher than the same time last year, highlighting where investor interest lies at the moment.
Farms Are Slowing Down
It’s been a very strong few years for farmland around the world and Australia has seen a big jump in prices in that time. However, REA notes that interest in farmland is starting to slowly taper off. Last month, commercial farms saw an 8% drop in search volumes, while it was the weakest sector over the past 12 months, up only 13%.
Leisure Activities Returning
With lockdowns slowly easing in many areas, the interest in leasing leisure space has started to, once again, increase. Last month, views for properties for lease jumped 21%, making it the strongest performer. However, over the course of the past 12 months, it was once again industrial property that has been getting the most attention. Over that period there has been a 40% increase in views on industrial properties for lease.
Overall, interest in commercial properties continues to gather momentum as investors seek out high yields and potential protection against rising inflation.
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