There’s good news for Perth’s property market! Data suggests a significant increase in interest from overseas property seekers.

Growing Popularity

According to new PropTrack data, Perth has become a hot spot for international property hunters. The city ranked as the 5th most-searched location in Australia by overseas buyers in the year to April. This is a major jump, with overall overseas searches for Australian property up by only 0.8% in the same period.

Perth’s Allure

So what’s driving this surge in interest? PropTrack senior analyst Karen Dellow attributes Perth’s appeal to several factors. The city boasts a pleasant climate year-round, along with good job opportunities and a rich cultural scene. Additionally, Western Australia is actively promoting itself as a destination for skilled migrants, with Perth being the only capital city where these migrants can live and work on a regional visa.

Suburb Spotlight

The data also reveals some interesting trends within Perth itself. While the city center is the most in-demand postcode overall, overseas buyers seem to have a particular fondness for coastal living. Fremantle, Scarborough, Cottesloe, and Mandurah are all among the top five most searched suburbs. Rockingham, with its beautiful beaches and affordability, also captured the attention of international house hunters, despite being further from the CBD.

Looking Ahead

With overseas searches for Perth property up 2% year-over-year compared to a national decline of 2.3% for rentals, there’s no indication that this trend will slow down anytime soon. This rise in interest could potentially impact the Perth property market, so it’s a good idea to stay informed on market trends if you’re considering buying or selling a home in the area.

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