There's no doubt that most people are feeling the pinch right now, with high cost of living pressures sticking around. Buying a home is a distant dream for most Melburnians, let alone the idea of owning two. Heck, these days we feel indulgent when we simply buy a coffee or order takeaway for dinner. But while we’re just making do, others are making dough, enough so that they’ve got keys to multiple properties. What’s on the wish list for this lucky bunch? Apparently, it’s a second home in our beloved city.
A recent study by estate agent comparison site GetAgent has unveiled the most in-demand cities for purchasing a second property around the world, with researchers measuring global interest in property investment by analysing search trends for terms like ‘second home in [location]’ and ‘holiday home in [location]’. Australia dominated the list, claiming four spots in the top ten rankings, with Melbourne ranking second in the whole wide world.
You don't need to tell us that Melbourne is a great place to live, and obviously the rest of the world has well and truly caught on. Our city had 45,000 annual searches for second and holiday homes in the city. As a cultural hotspot, it makes sense that Melbourne is where the crowds want to be, with our city having recently been crowned as home to the coolest street in the world right now. Not to mention, it was also recently dubbed as one of the top ten best cities for culture in the world too.
Topping the list as the number one most in-demand city to buy a second property was the Gold Coast, famous for its golden sands, thrilling theme parks and laid-back holiday vibes. It amassed just shy of 50,000 searches in the past year, which was more than anywhere else in the entire world.
Adelaide and Perth also featured in the top ten, landing in sixth and seventh place respectively, while Sydney claimed the 13th spot and Brisbane followed closely in 15th place.
GetAgent also crunched the numbers for global searches at a country level. Topping the charts as the most searched countries for a second or holiday home were Ireland, New Zealand and the United Kingdom, with Australia earning a respectable 15th place.
Here are the top ten most searched cities around the world for second homes:
- Gold Coast, Australia
- Melbourne, Australia
- York, United Kingdom
- Cape Town, South Africa
- Malaga, Spain
- Adelaide, Australia
- Perth, Australia
- Auckland, New Zealand
- Edinburgh, United Kingdom
- Inverness, United Kingdom