Overseas buyers and renters are staking a claim on the Australian property market, with nearly one in 10 aspiring renters Zooming in from abroad.
Analysis conducted by the virtual tours platform Little Hinges has found that a staggering 9.3 per cent of rental inspections in August came from outside Australia. International buyers were similarly keen, with over 7 per cent of digital sales inspections hailing from overseas.
The August Sight Unseen report marks only a slight decline from the record highs of May, when international sales inspections peaked at 7.73 per cent.
According to Little Hinges’ chief marketing officer Mike York, the August findings are proof that “Australian property continues to be attractive to international buyers and renters”.
“The percentages of buyers and renters inspecting property from overseas are amongst the highest we have seen since the beginning of the year,” Mr York observed.
When it comes to overseas renters, Sydney and the Gold Coast tied for top place, with approximately 11 per cent of rental inspections in each location coming from renters based outside Australia.
Turning attention towards international would-be property purchasers, the Sunshine Coast topped international buyers’ lists, with 9.45 per cent of international clients targeting the region. The Gold Coast followed hot on its heels, with international virtual sales inspections coming in at 8.75 per cent.
According to Little Hinges: “This equates to over 40,000 households looking to migrate to Australia in August alone.”
It isn’t just international house hunters who are looking to make a move – interstate buyers and renters are also packing their bags. On average, over 27 per cent of online sales inspections and 24 per cent of digital rental inspections across Australia came from interstate clients.
That’s a whopping one in four inspections taking place virtually.
As with international property seekers, interstate buyers and renters are seeking the sun, with Queensland’s Sunshine Coast and the Gold Coast the most popular destinations.