The total number of commercial properties sold in Australia in the second quarter of this year has been four times that of the first quarter. The first three months of the year saw the country devastated several times by natural disasters; one after the other, so the figures are not surprising.

Research from CB Richard Ellis, real estate advisors, has shown that in the three months leading up to the end of June, around 2.7 billion dollars worth of commercial property in Australia changed hands.

The transactions for the 2010/11 financial year reached $8.9billion, that’s an increase of 32% year on year. This comes as good news for the commercial market, which has recently suffered the worst first quarter in nearly twenty years.

The majority of the commercial sales, 52%, were for offices, followed by retail space at 40%. Kevin Stanley, executive director of CBRE, says ‘The office market is fundamentally in good shape and improving. Floods and cyclones in Queensland, the Japanese and New Zealand earthquakes and general global uncertainty all conspired to create a very slow start to the investment year.’

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