PropTrack Overseas Search Report
Overseas interest in Aussie properties has surged to record levels as migration hit its highest point in three years, according to the latest PropTrack Overseas Search Report.
During the last quarter, the number of searches conducted from abroad for purchasing and renting properties on realestate.com.au reached an all-time high, surpassing previous records set since PropTrack's establishment in 2019.
Comparing the past three months to the corresponding period in 2019, there has been a significant increase in rental property searches, with a rise of 34%.
Similarly, searches for buying properties have also seen a notable upswing, experiencing a surge of 29%.
WHERE'S THE DEMAND COMING FROM?
According to the report, the countries with the highest searches for Aussie properties are New Zealand, The United States, The United Kingdom, China, Singapore, Hong Kong, and India.
New Zealand has held the top spot for the past two years in terms of searches for Australian real estate, with rent searches up 37.5% on this time last year and searches to buy up 8.8%.
Demand from India has increased substantially in the past 12 months, with faster growth in both searches to buy and rent than in other countries.
The Chinese government's call for all international students to return to their campuses at the end of January drove a surge in rental searches from China, reaching their highest point in over three years in February.
Extract Thanks – propertyupdate.com.au
Comments