An increasing number of property investors are buying interstate, potentially because they’re chasing affordability, diversification or stronger returns.
PropTrack has reported that, over the course of this year, 23% of all buyer enquiries on realestate.com.au have come from people based in a different state. That compares to 17% in 2022, 15% in 2021 and 11% in 2020.
South Australia is the state that’s received the most interstate enquiries this year, at 29%, followed by Queensland (27%), Western Australia (25%), Victoria (23%) and New South Wales (15%).
If you’re a property investor who doesn’t want to self-manage your asset and doesn’t feel the need to drive by the home from time to time, it makes sense to at least consider buying throughout Australia rather than just locally, so you have more options.
Get in touch if you’re thinking about buying an investment property, whether locally or interstate. I’ll help you get a home loan pre-approval, so you know your budget.