Home Insights PropTrack Overseas Search Report – 2022 wrap up

PropTrack Overseas Search Report – 2022 wrap up

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With borders reopening and workers and students returning, overseas raids in 2022 have surpassed pandemic levels.

International worker and student arrivals were higher than in 2021, but have not returned to pre-pandemic levels. Source: Getty Images.

rent search realestate.com.au The proportion of overseas property seekers in 2022 is up 65% compared to 2021 and 20% above pre-pandemic levels (2019).

Purchase searches are up 10% compared to 2021 and 11% above 2019 levels.

The increased search activity coincided with the return of migrant workers and students to the coast.

The total number of visas issued for all types of entry into Australia in 2022 will be ten times higher than in the previous 12 months, with certain work and student visas falling short of December data availability. has also increased eightfold.

Top overseas search countries

New Zealand property seekers ranked first for both buy and rent searches, pushing UK and US users to the post and accounting for 30% of all searches.

Indian real estate seekers had the most searches to buy and rent, ranking fourth at 11% and 13% of total searches respectively.

Year-on-year rental searches increased in all major countries, notably New Zealand, where rental searches increased by a staggering 76%, and India, where they increased by 48%.

In contrast, purchase searches fell in all countries, but NZ and India saw increases of 13% and 79% respectively.

Where are overseas searchers looking?

Melbourne will be the most popular for both buying and rental searches in 2022, followed closely by Gold Coast for buying searches and Sydney for rental searches.

Melbourne was the most searched suburb for buyers and renters in 2022. Source: Getty Images.

The Gold Coast was the only region to make the top five, with most property seekers preferring homes in the capital.

The Gold Coast’s worldwide reputation as a desirable destination is a testament to its popularity.

most popular suburbs

Australia’s capital is the most searched suburban city in 2022, topping searches for buying and renting together.

The Gold Coast is the most popular destination for property seekers in NZ, while in Hong Kong, Chatswood, Box Hill (VIC) and Doncaster, which is known for its Chinese population, were searched.

Most Viewed New Developments by International Searchers

Overlooking Melbourne’s Flagstaff Gardens, the Queen’s Place apartment development was the most viewed new construction property by international searchers in 2022.

111 Castlereagh in Sydney’s CBD came in second.

The view from Queen’s Place, a new condominium that is attracting the most attention in overseas property searches. Source: realestate.com.au.

New construction is popular with overseas property buyers as most are restricted to buying new properties only.

The Australian 108 penthouse, the fifth-most-visited development of the year, sold to a Chinese buyer for an initially unplanned and record-breaking $25 million, while the inner-city apartment was among international travelers traveling to Australia. popular with business people. frequently.

What’s in store for 2023?

Immigration numbers will continue to grow in 2023 as students and skilled workers return to Australia.

Australia’s low unemployment rate and shortage of skilled labor will continue to attract immigrants from abroad, particularly from China and India.

The arrival of large numbers of overseas migrants seeking rental housing could add to the current shortage of rental properties being experienced nationwide.

However, since the percentage of overseas property applicants is low compared to Australian residents, the additional burden is expected to be small.

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