Like residential, there are some sectors of commercial property that will be more COVID-19 proof than others.
We are seeing very few signs of a rapid increase in distressed listings across all property types, but development sites and shopping centres did see a slight uptick from the same time last year.
By state, Victoria and WA saw the biggest increase in distressed listings but QLD and NSW continued to report the highest numbers.
While signs of distress on realcommerical.com.au are limited so far, we will see increases.
The sectors most at risk are development sites, shopping centres, hotels and tourism and office.
Already, we have seen a big jump in views for properties for sale, as well as those for lease.
The commercial property sectors that are weathering the economic fall out the best so far are rural and agribusiness and industrial property; both of which haven’t seen much change in demand.