Attention remains firmly fixed on the Queensland real estate market as new buyer and rental inspection figures from Little Hinges revealed growth in interest for the Sunshine State.
The national level
In August 2023, the data revealed that 24.7% of rental properties in Australia were inspected from interstate, and 9.3% of properties were viewed from overseas.
A strong contingent of interstate buyers was observed, at 27.2%, while international buyers came in at 7%.
According to the August Sight Unseen Report from Little Hinges, the percentage of international rental inspections is at its second highest since the beginning of the year at 9.3%, while international buyer inspections are just below their record high of 7.73% in May, at 7.03%.
This equates to over 40,000 households looking to migrate to Australia in August alone.
“Australian property continues to be attractive to international buyers and renters,” said Little Hinges CMO, Mike York.
“The percentages of buyers and renters inspecting property from overseas are amongst the highest we have seen since the beginning of the year.”
Queensland shines on
The Sunshine Coast, the Gold Coast, and Brisbane all saw record numbers of interstate and international inspections.
While other cities across Australia recorded interstate buyer inspection numbers in the low to mid-twenties, Brisbane saw 27.1% of properties inspected by interstate buyers; the proportion for the Gold Coast was 37.4%, and the Sunshine Coast 39.2%.
The Sunshine Coast has continued to see growth in buyer inspections, up 2.7% on last month, while all other regions analysed saw slight decreases in August, noted York.
Rentals were a similar story, with interstate rental interest for the major cities across Australia in the low twenties, whereas the Sunshine Coast and the Gold Coast both saw proportions in the thirties.
Both Brisbane and the Sunshine Coast saw an increase in the number of interstate rental inspections this month, growing 7.24% and 0.82% respectively.
Across the Sunshine Coast, the Gold Coast, and Brisbane, all three saw the largest percentages of people looking for a rental coming from New South Wales and Victoria.
The three most popular countries of origin for those looking at renting in these Queensland cities included New Zealand, the United Kingdom, and the United States of America.
The story was much the same for buyer inspections.
Full break down
Source: Little Hinges
Source: Little Hinges
Article source: thepropertytribune.com.au