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Demand for property rebounded in June as a new report showed local buyers and renters are returning to the market, with one state emerging as the crowd favourite for virtual inspections.
Virtual tours platform Little Hinges analysed over 300,000 virtual inspections conducted during the month and found the percentages of buyers inspecting property in major regions across Australia from interstate are at their highest levels since the start of the year at 24.6 per cent.
Chief marketing officer Mike York said: “We’re seeing a recovery in the percentage of digital inspections being conducted by buyers inspecting property sight unseen.”
Notably, the June figures were up from May, when 23.6 per cent of inspections were conducted from across state lines.
Little Hinges’ research also indicated an upward trend from the 22.7 per cent in April, when interstate buyers and renters were reported taking a ‘wait-and-see’ approach amid market uncertainty.
Retaining its position as a favoured destination, there was strong demand for Queensland properties amongst buyers and renters from the southern states, with 30 per cent of buyer inspections and 26.4 per cent of rental inspections being conducted from outside the Sunshine State during the month.
A further breakdown of the figures showed the percentage of interstate buyers inspecting properties on the Sunshine Coast, Gold Coast and Brisbane jumped by 5.7 per cent (38 per cent), 0.6 per cent (40 per cent ) and 3.2 per cent (23 per cent), respectively.
Interstate renters were also looking for a slice of Queensland, with the Sunshine Coast experiencing a rise of 5.9 per cent (up to 33 per cent), the Gold Coast witnessing a surge of 9.5 per cent (up to 28 per cent) and Brisbane showing a modest increase of 1 per cent (up to 18 per cent).
But it’s not just local buyers and renters who were active in the market. Data showed the percentage of international inspections was the highest it had been since January 2022 at 8.2 per cent.
Overseas buyers continue to drive demand for Queensland properties, with almost 10 per cent of inspections for properties in the region coming from outside the land Down Under’s borders.
The Gold Coast remained the most popular Queensland city for international home buyers, with 9.8 per cent of inspections coming from overseas – higher than the Australian average of 8.2 per cent.
Properties on the Sunshine Coast had 7.4 per cent of inspections from overseas, with Brisbane seeing 7.5 per cent of international interest.
International renters made up almost 10 per cent of all inspections around the country in June, with Queensland cities slightly above the rest of the country at 10.1 per cent.
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