Gold Coast property tops international online search list
SUN, surf, and sand – what’s not to love?
The Gold Coast has once again been crowned the most searched region for international property seekers, new data reveals.
The PropTrack Overseas Search Report, released Thursday, revealed the Glitter Strip kept its title as number one most searched region, followed by Melbourne.
Sydney came in third, Brisbane was fourth and Perth rounded out the top five.
“The Gold Coast has always been a popular destination for both domestic and international property seekers, but the pandemic saw demand soar,” said Karen Dellow, PropTrack senior analyst.
“The Gold Coast is a lifestyle area and encapsulates what Australia is globally known for: beautiful weather and a relaxed lifestyle.
“Overseas property seekers often want a piece of that lifestyle when they make the move to Australia.”
Ms Dellow said the surge in demand was also driven by affordability of property in the Gold Coast and the fact Queensland faced fewer lockdowns compared to other states.
“The pandemic and ongoing hybrid work arrangements have provided people with flexibility when it comes to where they live and work, which may see demand for Gold Coast property remain strong,” she said.
Ms Dellow said the return of overseas migrants would increase demand for rental properties while investment from foreign property seekers looking to buy and rent out a property would help to increase rental stock.
On a national level, the report showed combined buy and rent searches for Australian property were up 44 per cent year-on-year – taking them to the highest volume on record.
About 75 per cent of buy and rent searches came from the United Kingdom, United States and New Zealand.
Searches for properties to rent by international property seekers skyrocketed, up 89 per cent year-on-year.
Indian property seekers recorded the biggest jump in rental searches, with an increase of 159.4 per cent year-on-year in October.
The United Kingdom came in second (+98%), China was third (+94.6%) and New Zealand rounded out the top four (+85.5%).