Real estate sites have seen record audiences and time spent on their online titles according to the latest Nielsen Digital Content Ratings data.
Despite the uncertain road combined with the fall of national rent values by 0.3% in June, Nielsen Digital Content Ratings data found that Australians spent 48% more time on real estate websites for the month of June 2020 when compared to the same month last year.
"As the novel coronavirus (COVID-19) pandemic continues to affect all industries, Australia's real estate industry has adapted to the challenges associated with restrictions," said Lyndal Cowling, Nielsen digital industry lead for Australia.
"It did so by leveraging digital alternatives to in-person efforts, such as online auctions and virtual walkthroughs."
Australians continue to engage with real estate content at unprecedented levels as they begin their research for a future purchaseLyndal Cowling, Nielsen digital industry lead Australia
"As lockdown restrictions have eased to allow open houses and on-site auctions, audiences have spent an average of 27% more time on real estate sites each week in comparison to the national lockdown period.
"When looking at the audiences time spent each week, 2020 started off strong, outperforming any period from the previous year.
"Despite the significant drop in mid-March, peaking during the first week of Australia's COVID-19 lockdown, time spent on the sites grew quickly from mid-April as the restrictions started to ease. Since these restrictions were eased 11 weeks ago, audiences have collectively been spending over 3 million hours per week in the sub-category, levels not achieved for any week of 2019.
"There is no doubt that the events surrounding COVID-19 swiftly transformed all aspects of daily life, and when it comes to purchasing a new forever home, audiences increased their interest in real estate websites not just because of the lockdown restrictions."