South Australian real estate has proven to be hot property among overseas househunters, with Adelaide homes among the most searched for in the country.
According to PropTrack’s Overseas Search Report for November, which looks at the number of searches on realestate.com.au from searches outside of Australia – Adelaide city was the eighth most searched-for market for purchases in the country, with properties across the Adelaide metropolitan area coming in at number 20.
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Adelaide’s CBD was also the ninth most searched market for rentals.
Interestingly, the biggest spike in searches came from India, where the number of people actively looking at Australian homes increased 23 per cent on this time last year.
In terms of search volumes, Auckland, New Zealand residents conducted the most searches for Australian properties for sale, ahead of those living in Hong Kong, California, Singapore and Tokyo, Japan.
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SA real estate is hot property, overseas search data shows. Supplied.
Searches from New Jersey came in at number six, ahead of househunters in Bali, Indonesia; and Canterbury, Greater Wellington and Waikato – all in New Zealand.
The report also revealed overseas searches had more money to spend on property than locals.
“The most common maximum price for Australian searchers when looking to buy on realestate.com.au is $600,000,” the report said.
“This is quite surprising as the number of properties below this threshold is shrinking, especially in the capital cities.
“However, the most searched top price band for overseas searchers is $1m.”
Searches from Auckland, Tokyo and Hong Kong respectively topped the list of searches for Australian rentals.
It’s not just Australians looking for South Aussie properties, with searches from India up 23 per cent.
The report said overseas searches were seasonally affected.
“There has been a lot of fluctuation in searches from different countries over the past six months, and it is likely that this will continue to be the case for searches from countries such as the United States in the coming months,” the report read.
“Additionally, rental searches usually spike in the lead-up to the new school/university term; however, 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.
“This will have a significant effect on the number of searches on Realestate.com.au that come from prospective students.”
