One in five buyers are purchasing interstate

More home-hunters are looking to buy property in a different state – but why?

In the year to August, 22% of all enquiries to buy property on realestate.com.au came from buyers based in a different state, compared to 17% in the previous 12-month period.

Some people are looking to buy interstate for reasons of affordability. New South Wales, for example, which is the priciest state, recorded the highest share of local buyers making enquiries in other states and the lowest share of receiving enquiries from other states.

Meanwhile, some investors are targeting out-of-state locations that seem to offer better returns. The prime example is Western Australia – where property prices have been booming – which experienced the biggest increase in interstate enquiry over the past year.

If you are purchasing interstate it's worth considering engaging a Buyers Agent to do the leg work for you.

To know your numbers get in touch.

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