Interest in Australian property from overseas has never been higher, and some locations are more desirable than others.
The most searched-for location in the past six months on realestate.com.au was Melbourne, which is hardly surprising considering it is the first port of arrival for many migrants and is also a major centre of commerce and study.
Melbourne is the most in-demand city with overseas property seekers. Source: Getty Images.
With this in mind, many would expect Sydney to be next on the list; however, the sandy beaches and year-round sunshine of the Gold Coast attract more searchers.
Queensland is in high demand from overseas, and Brisbane is also more popular than Sydney.
The top nine most searched locations are either capital cities or regions; however, if we look further down the list, we can see that the blue-chip Melbourne suburbs of Brighton, South Yarra, and Camberwell are in high demand.
Properties in Brighton are in high demand with overseas searchers. Source: realestate.com.au.
Balwyn, Armadale, and Toorak are also popular.
Half the locations on the list are in Melbourne, and a quarter are in Queensland.
Suburbs that have increased in demand
Searches for properties in Brunswick East, in inner Melbourne, have increased by 60% in the past six months, closely followed by Carlton North.
Both suburbs have seen significant development in the past few years and are close to the University of Melbourne and the CBD.
Source: realestate.com.au. Includes web and app. Last 6 months.
Melbourne’s popularity with overseas property seekers has increased further recently, with a 20% increase in searches over the past six months.
Searches for Ashgrove in inner Brisbane have increased by 45%, and the Sunshine Coast’s Mooloolaba, and Burleigh Heads, on the Gold Coast have also become more popular.
With migration returning to pre-pandemic levels, we are seeing increased interest from overseas property seekers looking to settle on our shores.