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Interest from overseas property seekers is skyrocketing as migration has returned to pre-pandemic volumes.

By George Hadgelias

Since the last Overseas Search Report in July 2023, searches from abroad have continued to increase, with buy searches up 11.5% in the past three months and rent searches up 7.8%.

Both buy and rent searches are now well above pre-pandemic levels and are set to continue rising now that migration has returned to previous levels.

A quarter of buy and rent searches from overseas come from New Zealand, and interest from our nearest neighbour has increased monthly.

Rental searches from across the Tasman have increased by 38% from last year, and buy searches are up 7%.

Interest from China waned in 2020, plummeting by 53% in the 12 months to September 2020. However, in March 2023, searches for properties to buy skyrocketed and have returned to pre-pandemic levels.

The same is the case for rental searches from China, which are nearly double the volumes seen before the pandemic.

This increase is primarily driven by the return of students and migrant workers to our shores.

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