Australia is emerging as an increasingly popular location for those searching for overseas property with a 71.5% increase in market share, according to the latest search index.
Researchers reckon this could be an indication that more British people are looking to become expats and move to Australia as it is too far away to be a popular second home location. Indeed, the British appetite for looking for foreign property shows no sign of slowing with Rightmove Overseas reporting that in January 53% of indexed locations on its website saw more searches, according to the organisation’s latest report.
Overall searches were up 50% on January 2009 and up 64% on the previous month with Australia is closing on the top three countries, with triple the number of searches last month and an increase of 71.5 % in market share
‘The British appetite for property seems to show no signs of slowing. Australian searches are now close to overtaking the US to become the third most popular destination,’ said Robin Wilson, Head of Overseas at Rightmove.
‘It’s an impressive showing given the long distances involved to reach Australia as flight time is nearly three times longer that crossing the Atlantic to Florida. Australia isn’t the kind of place you can hop over to for a few weeks and maintain a second home, so a big chunk of this traffic must be driven by desire to leave the UK and emigrate,’ he added. Wilson said the surge in interest in buying in Australia represents an opportunity for developers and agents to cash in on the dream of a new life down under.
‘They need to think about how to help dreamers put some solid foundations in place to make emigration a reality. These first few months of the year are a critical opportunity to take advantage of the New Year sentiment,’ he explained.
Perth, Melbourne, Brisbane, Tasmania, south Australia and Sydney, all show an increase in searches. Australia is fourth overall in the searches table. Spain is top, followed by France and then the US.