Interest in Australian property from overseas buyers has risen slightly compared to last year, with fluctuating trends across countries, PropTrack reported.
Karen Dellow (pictured above), senior audience data analyst at REA Group, noted that searches for Australian homes from overseas buyers reflect a mix of investment interest and migration plans.
“Indian property seekers were particularly interested in Australian homes in October, with searches for properties to buy and rent both up by 23% compared to last year,” Dellow said.
Searches from the UK also increased, while rental interest from Hong Kong saw a modest 4% rise.
In contrast, New Zealand searches declined during October for both buying and renting, which Dellow explained is a seasonal pattern. 
“This is typical for this time of year and will likely pick up in December,” she said.
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Interest from the United States, meanwhile, surged in the past quarter but dropped by 25% between September and October. Dellow linked this fluctuation to political events.
“Searches from the United States spiked as polls showed former president and candidate Donald Trump was on track to win the White House in November,” she said.
Now that Trump is president-elect, interest in Australian property from US buyers may rebound, the PropTrack economist said.
Key search activity came from populous states like California, New York, and Texas, reflecting a strong interest in migration or investment opportunities.
International buyers searching for Australian property generally focus on higher-value homes compared to domestic buyers.
“The most common maximum price for Australian searchers when looking to buy on realestate.com.au is $600,000,” Dellow said.
In contrast, overseas buyers commonly search for properties in the $1 million range.
Luxury developments are especially popular.
“The 111 Castlereagh project in Sydney has properties starting at over $2 million and is a popular development for overseas searchers,” Dellow said.
Melbourne developments like West Side Place and Australia 108 are also drawing strong interest from international buyers.
For Indian buyers, budget constraints lead to interest in suburbs like Tarneit and Point Cook, which feature reasonably priced new homes.
Search activity from overseas buyers is expected to fluctuate further, especially as rental demand typically spikes before academic terms begin. However, proposed government caps on international students may dampen this interest.
“If the federal government’s overseas student cap legislation passes, then Australia could see a decrease in the number of students arriving from next year,” Dellow said.
This would likely affect searches from prospective students, impacting the rental market.
Despite this, Australian property remains a key focus for overseas buyers, particularly those drawn to luxury apartments and high-value investment opportunities, PropTrack reported.
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