Considering moving to Australia or buying a holiday property down under? Whether you’re dreaming of the iconic Sydney skyline, Melbourne’s vibrant cultural scene, or Perth’s relaxed coastal vibe — buying property in Australia as a UK resident is certainly achievable. 🦘🇬🇧
✅ Due diligence and understanding the local process is key. This in-depth guide covers everything you need to know — from legal requirements and property market trends to a full step-by-step buying process.
Your Guide to Buying Property in Australia
How to Obtain a Mortgage as a Non-Resident
Taxes and Additional Costs
Australia’s Property Market Outlook (2024)
Can Foreigners Purchase Real Estate in Australia?
Does Buying Property Help You Get Residency?
Average Home Prices in Top Cities
Most Affordable Cities to Buy In
Where to Look for Properties & Making Search Queries
Risks and Challenges to Watch Out For
Choosing the Right Property
Moving In: What You Need to Know
Step-by-Step: How to Purchase Property in Australia
Whether you’re investing, relocating, or retiring, the Australian property market offers a wide range of opportunities. Here's what to expect.
Yes, foreigners can obtain a mortgage in Australia, but conditions may vary:
Stricter deposit requirements (typically 30% or more)
Higher interest rates
Detailed documentation for income verification
📝 Commonly Required Documents:
Proof of income (salary slips or tax returns)
Bank statements
Valid ID (passport, driver’s license)
Declaration of assets & liabilities
Besides the purchase price, factor in these additional expenses:
| Cost | Estimate |
|---|---|
| Stamp Duty | 3–5% (plus foreign buyer surcharge) |
| Legal Fees | $1,500 – $2,500 AUD |
| FIRB Application Fee | From $12,900 AUD |
| Lender’s Mortgage Insurance (LMI) | Required if borrowing >80% of value |
| Inspection Fees | $500 – $1,000 AUD |
| Building Insurance | Ongoing |
🧠 Pro Tip: LMI is mandatory when borrowing more than 80% — it protects the lender, not the borrower.
The market is booming in early 2024:
📊 National average price increase: 8.7% YoY
🚀 Brisbane leads with a 16% rise
⚠️ Short supply continues to drive demand, especially in urban centers
Yes, but with conditions:
FIRB approval is mandatory
Only new properties are typically allowed
Existing dwellings are usually restricted
Temporary residents may purchase one residence to live in
📌 For full regulations, visit the FIRB page on the ATO website.
Unfortunately, buying property does not guarantee residency.
However, long-term ownership may support visa or citizenship applications under certain immigration streams.
| City | City Centre | Outside Centre |
|---|---|---|
| Sydney | $22,477 AUD/m² | $14,159 AUD/m² |
| Brisbane | $12,286 AUD/m² | $8,551 AUD/m² |
| Canberra | $11,113 AUD/m² | $8,971 AUD/m² |
| Melbourne | $10,928 AUD/m² | $8,384 AUD/m² |
| Adelaide | $9,902 AUD/m² | $6,060 AUD/m² |
| Perth | $8,216 AUD/m² | $5,900 AUD/m² |
💡 Note: Prices vary by neighborhood and property type — research is essential.
Looking for value? 🧮 Perth is the most affordable major city, with home prices almost half that of Sydney.
Also consider:
🏡 Regional Queensland
🌾 Western Australia (excluding Perth metro)
🏙️ Suburban Brisbane and Adelaide
Must be licensed
Can help navigate the legal and logistical hurdles
Consider hiring a Buyer’s Agent to represent you exclusively
Stay alert — the following can trip up overseas buyers:
❗ FIRB non-compliance may result in penalties
🔥 Bushfire-prone areas = more regulations & insurance
🐜 Termite risks = thorough pest inspections are critical
🛑 Real estate scams = verify agents & listings independently
Key considerations when narrowing down options:
💵 Budget
📍 Location
🏠 Property type (house, apartment, townhouse)
🏫 Proximity to schools, transit, shopping
🛠️ Don’t skip building and pest inspections before finalizing your offer!
Before you get settled:
🔌 Set up utilities (gas, electricity, water, internet)
🛡️ Secure home insurance
🌱 Consider energy efficiency upgrades
🔐 Change locks and handle basic repairs
Here’s what the buying journey typically looks like:
💰 Establish Your Budget & Get Pre-Approval
Open an Australian bank account for smoother transactions.
🔍 Browse Listings & Book Tours
Open house tours are common — no appointments necessary.
📌 FIRB Approval is Mandatory
Apply before making offers to avoid legal complications.
📜 Make a Formal Offer
Some properties go to auction — offers here are binding.
💵 Pay the Deposit
Usually 5–10%, due immediately after auction wins.
🖋️ Hire a Conveyancer & Sign Contracts
Legal paperwork and title checks handled by licensed professionals.
🏚️ Do Building and Pest Inspections
Not required, but highly recommended.
🏦 Finalize the Mortgage & Close the Deal
Settlement day = property officially transferred to you.
Whether you’re relocating or just investing, knowing the full buying process makes it easier and safer.
🏡 Start early — shop online listings, apply for FIRB approval, and line up financing.
💬 Need help with financing?
🧑💼 Pro Tip: Speak with a local Aussie mortgage specialist for tailored support.