Sydney regions with biggest spike in overseas demand revealed

Overseas searches of Sydney real estate have skyrocketed, with new data showing the city regions becoming more popular with international property seekers.

One Sydney region has recorded a doubling in the number of overseas searches for rental properties as migration numbers continue to swell.

PropTrack’s latest overseas search report showed there was an 111 per cent increase in searches for rentals in the city’s southwest over the past six months - the biggest rise for a city region across Australia.

The southwest, which includes areas such as Liverpool and Fairfield, remains one of Sydney’s most affordable rental markets.

Sydney suburbs of Zetland and Randwick also ranked in the top 20 most popular searches for interested international renters.

PropTrack have revealed overseas searches for property have sky rocketed since this time last year.

Gosford, Tamarama and the Byron Bay region were other popular destinations for rental searches from overseas, recording some of the biggest increases over the last six months.

Sydney as a whole was ranked the second most popular Aussie destination among interested international renters, behind Melbourne, according to PropTrack data.

PropTrack revealed that overseas real estate searches have grown as resurgent migration levels pass pre-pandemic levels.

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Among buyers, the Sydney CBD ranked as the fourth most searched location.

PropTrack recorded an increase in international searches since last year, with buy searches up 11.5 per cent within the last three months alone and rent searches up 7.8 per cent

This increase has coincided with Australia seeing the highest level of international students and migrant workers since January 2020, averaging 265,000 new arrivals each month for the past six months, according to PropTrack.

An influx of international students has coincided with increased searches for rental properties with Sydney ranking as the second highest international search.

The highest searches were from our nearest neighbour, New Zealand, with rent searches up 38 per cent compared to the same time last year.

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One quarter of all international buy and rent searches came from New Zealand.

Rental searches were up in September last year, particularly in China and the UK, with rental searches from China nearly double the volumes seen prior to the pandemic.

Sydney CBD had the highest amount of international searches

Searches to buy were up year on year, particularly in China which increased by 36.9 per cent and 15.54 per cent from the UK.

There was a year on year decrease in interest from some countries including Hong Kong, Singapore and India.

Despite the overall increase in overseas searches, real estate searches from overseas comprise only 3 per cent of total buy searches and 5 per cent of total rent searches.

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Originally published as Sydney regions with biggest spike in overseas demand revealed