Overseas interest in Aussie properties has surged to record levels as migration hits highest point in three years.
Searches from overseas for properties to buy and rent on realestate.com.au last quarter reached their highest level since PropTrack records began in 2019.
Rental property searches in the past three months are up 34% on the same period in 2019, and searches to buy properties are up 29%.
The countries with the highest searches for Aussie properties are New Zealand, The United States, The United Kingdom, China, Singapore, Hong Kong, and India.
New Zealand has held the top spot for the past two years in terms of searches for Australian real estate, with rent searches up 37.5% on this time last year and searches to buy up 8.8%.
Demand from India has increased substantially in the past 12 months, particularly in Melbourne and Sydney, with faster growth in both searches to buy and rent than other countries.
The number of arrivals with student or work visas has not yet reached pre-pandemic heights, but they are likely to return to normal levels in time.