Home Insights PropTrack Overseas Search Report – April 2022

PropTrack Overseas Search Report – April 2022

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The total number of searches for properties purchased and rented by overseas real estate job seekers on realestate.com.au increased by 21% from the previous report in January.

Every month, purchase list searches are up 10% and rents are up 4%.

However, this is a separate story from year-over-year activity, with purchase searches down 8% and rental searches jumping 45% compared to the same period last year.

Through the pandemic, the number of purchase list searches increased, but the rental list plummeted in March 2020 and began to recover in late 2021.

They are now the highest in history, and this surge is probably due to the reopening of the border, allowing students and migrant workers to return to the country.

Real estate job seekers from Hong Kong and China renewed their interest in Australian real estate in March, up 24% and 13% month-on-month, respectively.

New Zealand is the only country with a year-on-year increase in searches, with a 33% increase in March 2021.

Searches from New Zealand were the highest ever in 2021. This is a result of the Trans-Tusman bubble allowing Kiwi to travel to Australia, and demand remains high.

The remaining top five countries are all down in March 2021.

Interest from these countries seems to have peaked, so it is possible that other countries are trying to replace them.

India is a major competitor, experiencing a 94% increase in the previous quarter compared to the same period last year.

Taiwan, Vietnam, Indonesia and the Philippines all have double-digit growth in searches at realestate.com.au, but it will take some time for these countries to reach the top search volumes.

The Gold Coast is still the most popular destination

Although there have been minor changes in the rankings of the most searched suburbs and regions, most countries continue to focus on the major capitals and the Gold Coast.

Top 5 regions by country

Those looking for real estate abroad are already on the path of compatriots and women by looking for real estate in suburbs and cities with a large population abroad.

Searchers in China and Hong Kong prefer Chatswood in Sydney, Box Hill and Doncaster in Melbourne.

The Gold Coast remains the top destination for overseas real estate job seekers in March 2022. Photo: realestate.com.au/buy

Melbourne, Sydney and the Gold Coast are especially popular with searchers from the United States, United Kingdom and New Zealand.

Luxury city condominiums continue to attract overseas attention

International searchers continue to prefer luxury condominiums in Melbourne and Sydney. Westside Place In Melbourne, it occupies the top spot in most property views.

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