“This is consistent with the growing popularity of Australian housing that we’ve seen recent years, particularly among those from the UK, India, China and the Philippines,” said Luc Redman (pictured right), economic analyst at REA Group.
“Many of these migrant hotspots are considered desirable locations for locals too, with international property seekers and renters evidently focusing their search on Australia’s affluent areas, those close to CBDs, and ones with lifestyle amenities, such as our iconic beaches.”
The data coincides with continued tightening in the domestic rental market. Figures published last month by SQM Research showed Australia’s national residential vacancy rate fell to 1% in March, down from 1.1% in February. Total residential vacancies declined to 31,732 dwellings, reflecting ongoing pressure across the country.
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