Written by Karen Dellow – Senior Analyst, PropTrack.
Original article in Courier Mail
Australia has a rich multicultural ancestry. Our cities are a patchwork of suburbs with different ethnic footprints.
The largest share of immigrants making their way to Australian shores in the 21st century hail from India and China. Interest in properties from these nations has rebounded back to pre-pandemic levels since borders opened, and fear of spreading Covid has abated.
Searches for properties to buy in Queensland, mostly for areas within Brisbane or the Gold Coast, were up 20 per cent on February last year, and higher than February 2020.
Most new immigrants arriving in Brisbane come from New Zealand, England, India and China.
These countries are also in the top 10 that generate the most searches for properties to buy on realestate.com.au
Queensland has always been more popular with New Zealanders than any other state, however, since borders between Australia and New Zealand reopened in mid-2022, searches from our nearest neighbour surpassed the UK and US to be 60 per cent higher.
So far in 2023, searches from NZ have increased by 148 per cent, compared to the same period last year.
Queensland has also been attracting more searches from Canada, with a 21 per cent increase this year.
Property searches from the UK and Hong Kong are also up on last year, with an increase of 19 per cent and 13 per cent, respectively.
The suburbs preferred by overseas searchers are primarily areas known for their multicultural populations that continue to attract migrants from the same countries.
Aside from the Brisbane CBD, Indooroopilly, New Farm and Ascot top the list of the most searched suburbs by overseas property seekers.
However, the most popular suburbs vary from country to country.
Property seekers from Hong Kong prefer Indooroopilly and have also been searching from properties in the new development suburb of Rochedale.
New houses are also attractive to searchers from India, and Mango Hill has topped the list of the most searched suburb this year. Bracken Ridge and Spring Mountain are also popular.
Plenty of data shows migration trends, and property search data can paint a comprehensive picture, telling us where future migrants are likely to hail from and the suburbs they are likely to call home.