British Buyers Keen On Australian Real Estate

  • 13 years ago
  • Uncategorized

Online searches for property in Australia have more than doubled over the last two months as increasing numbers of Brits head to the web to search for property in warmer climates.

According to research from a leading overseas property website, searches for property in Australia increased by a staggering 114 per cent whilst searches for New Zealand property rose by 91 per cent.

Increasing numbers looking for Australian property

Robin Wilson, head of the website that undertook the research, said: “We always see a pick-up in January and February of ‘dreamers’ visiting the site.

“But nothing on this scale before.  It is also noticeable that searches for white-village properties in countries like Spain and Portugal are down on previous years. People seem to be moving towards wanting more authentic destinations.

I suspect when we review this month’s figures searches….those for Australia may well be up again after a series of TV programmes on relocating there.

Strength of Australian dollar making moving more expensive

However, if you are planning to relocate to Australia, it is worth bearing in mind that your money may not go quite as far as you expect.  The Australian dollar has strengthened considerably against the pound in recent months meaning that you may not get as much for your money.  In addition, Mercer’s Cost of Living Survey in 2010 found that Canberra, Adelaide, Melbourne, Perth and Sydney are all in the top 100 most expensive places in the world to live.

However, now may be a great time to buy in Australia as house prices have begun to rise again.  According to Paul Collins, the editor of BuyAssociation.com, prices in the first quarter of 2010 rose 18.8 per cent.  Mr Collins said: “These rises have since stalled a little and recent data from the RP Data Rismark Index show prices rising by…1.2 per cent in the year to January.”

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