Buying property in Australia as a foreigner: Complete UK guide (2026)

Thinking of moving to Australia from the UK, or buying a holiday home or investment property there?

Whether you’re drawn to the bright lights of Sydney, the country’s cultural capital Melbourne or laid-back Perth, you’ll need to know all you can about how to buy property in Australia.

We’re here to help, with a complete guide to buying property in Australia as a foreigner from the UK. This includes details of the buying process, the latest Australian property prices, info on fees and taxes, and where to find your dream home. Plus, the main risks and pitfalls to avoid.

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Can UK foreigners buy property in Australia?

Yes, foreigners can buy property in Australia, but only under certain conditions.

Under rules stretching until 31st March 2027, foreign nationals are banned from buying existing homes in Australia (with very limited exceptions).¹

However, you can buy:¹

• A new or near-new property
• An existing property for redevelopment purposes
• A plot of vacant land
• An off-plan property bought from a developer.

Foreign investors (non-resident) and temporary residents must also apply for permission or an exemption certificate from the Australian Taxation Office (ATO) before purchasing a property. There’s an application fee to pay, which varies depending on the value of the property.²

Find out more here on the ATO website.

Can you buy real estate and get residency?

No, you won’t automatically get permanent residency by buying a property in Australia. You’ll need to get the appropriate visa for that - read our guide to skills in demand visas in Australia.

What’s the real estate market like in Australia?

The Australian property market is experiencing a period of continuous growth, with house prices rising for 13 consecutive months up to March 2026.³

Nationwide, house prices increased by a whopping 11% over the last year, driven by a combination of high demand and undersupply.³

This makes it something of a seller’s market, with buyers having to pay more and face fierce competition with other buyers in order to secure a property.

Is property a good investment in Australia?

Weighing up whether Australia is a good place to buy property abroad? Here are some pros and cons to consider.

Pros:

• Strong long-term capital growth - as house prices continue to rise in Australia
• High rental yields and demand in many major Australian cities
• Good quality of life, if you’re planning to live in Australia.

Cons:

• Many restrictions on foreigners buying property, unless willing to buy a new home or renovation project
• No route to residency via a Golden Visa programme
• High property prices
• Mortgage conditions may be stricter and harder to meet for foreign applicants, and you may need a larger deposit.

How much are the property prices?

So, how much is property in Australia? This is an essential thing to know as you set your budget and start your search.

So, let’s take a look at average property prices across major cities in Australia:⁴

Note - the average prices above include both houses and apartments. Some cities have a larger proportion of apartments than others, so this can skew the figures - and the ranking of which cities are the most expensive.

Where is the cheapest place to buy property in Australia?

If you’re property hunting on a budget, some of the cheapest cities in Australia include Darwin and Hobart.

You might also want to look at regional Western Australia, Queensland, and Tasmania.

Best places to buy property in Australia

The best place to buy property in Australia all depends on why you’re buying.

If you’re looking to live in Australia as an expat, a major city like Sydney or Melbourne will offer all you could want in terms of lifestyle, culture, job opportunities, amenities and connections to the rest of the country.

Darwin, regional Queensland and Perth are all areas with good rental potential if you’re looking for a buy-to-let property, while the Sunshine Coast and Gold Coast are popular spots for holiday homes.

Looking to retire abroad? You might want to look at laid-back Adelaide or the well-named Sunshine Coast in Queensland.

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**Investments in funds are never guaranteed and your capital can be at risk. In the UK, Interest and Stocks are provided by Wise Assets — this is the trading name of Wise Assets UK Ltd, a subsidiary of Wise. Wise Assets UK Ltd is authorised as an investment firm and regulated by the Financial Conduct Authority (FCA). Our FCA number is 839689. We do not give investment advice, and you may be subject to pay tax. If you're not sure, seek qualified advice. You can find more information about the funds on our website.

How to search for a property in Australia

If you’re new to the Australian property market, it could be worth using a specialist real estate agent to help you find the right property.

This is especially useful if you’ve not yet moved to Australia, and are unfamiliar with the local property market.

The real estate industry in Australia is heavily regulated, with all agents and agencies requiring formal licensing to operate.

This means you can confidently approach any licensed agency of your choosing for advice and assistance. You can also appoint a Buyer’s Agent to act on your behalf, although bear in mind that fees may apply for this service.

You can also start the search online yourself, using one of these Australian property websites and portals:

• Property.com.au
• Realestate.com.au
• Propertybuyer.com.au
• Allhomes.com.au
• Domain.com.au

What to check before you buy

Here’s a quick list of important things to check before you buy property in Australia:

• Whether you’re eligible to buy your preferred property type as a foreign national, and the process (and fees) for getting ATO approval.
• The condition of the property - have in-depth building and pest inspections carried out, particularly to identify termite risks or structural damage.
• Whether the property is in a bushfire zone, or other high-risk area
• It’s crucial to verify the legal and registry status of the property before entering into any legal agreement - your solicitor will need to carry out a detailed land registry check.

How to buy property in Australia as a foreigner - a step-by-step guide

Now, let’s run through the typical process of buying property in Australia for foreigners:

1. Get your finances in order

Before you do anything, it’s crucial to get your finances in order. You need to set your budget, get mortgage pre-approval and define exactly what you’re looking for.

You might want to open an Australian bank account, ready for transactions relating to your mortgage.

2. Find a property and arrange viewings

Now it’s time to start searching for your dream home. You can use online property portals and/or local estate agents to find properties, then view any you’re interested in.

Many property viewings in Australia are done through open houses, which is where all interested buyers visit to inspect a property on the same day - without needing a specific appointment time.

3. Make an offer

Once you’ve found your dream home, you’ll need to make a competitive offer.

If it’s a private sale, you’ll submit this offer to the real estate agent or directly to the seller - negotiations on price are normal.

You can either submit a conditional or unconditional offer, the former being a binding commitment to buy providing certain conditions are met (such as a clean building survey or valuation report).

There’s also the option to buy at auction, where you’ll place bids on the property along with other interested parties.

4. Appoint a solicitor

If your offer is successful, you’ll move onto the legal stages of purchasing the property - and at this point you may want to appoint your own property lawyer.

They will check over all documents and contracts, as well as carrying out due diligence on the transaction.

A good place to start when finding a solicitor is this list of overseas property solicitors on the UK Government website.

5. Apply for ATO approval

Now is the time to apply for approval to purchase property from the Australian Taxation Office. You need to do this before signing any contracts committing you to buy the property.

This involves a fee, and approval can take a few weeks to come through. Find out more here.

6. Sign the contract of sale and pay the deposit

The next step is for both parties to sign the contract of sale. You may also need to arrange a transfer to pay your deposit, which in Australia is usually 10% ⁵.

Consider using the Wise account here to convert your pounds to Australian dollars (AUD), avoiding hidden fees and getting the mid-market exchange rate.

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In many Australian states and territories, there’s a short cooling-off period.

At this stage, you might want to contact your mortgage provider to finalise the financing for your purchase. It’s also a good time to arrange for a building survey or inspection to be carried out.

7. Commission a building survey and pest report

It’s not mandatory, but it’s definitely a good idea to appoint a professional to carry out a building inspection.

This will flag up any potential structural, electrical or damp issues, as well as any necessary repairs or maintenance required. You should also get a pest inspection, to check for termite activity or other pest issues.

8. Work towards settlement

Your conveyancer, along with the lender and seller, will do the work required to finalise the settlement. This is the transfer of the property title into your name.

A settlement date will be agreed, on which you’ll sign all documents and transfer the remaining balance.

And apart from settling fees and taxes (which we’ll look at shortly) this is the purchase complete. You’ll get the keys to your new home, and can settle into your new life in Australia.

How long does it take to buy a property?

Buying property in Australia generally takes between 4 to 6 weeks from exchange to settlement.⁶

However, for foreign buyers, it can take longer due to the need to get ATO approval - this can take around 30 days or possibly longer.⁷

Fees and costs of buying property in Australia

Here are the main fees and taxes for buying property in Australia, which you’ll need to factor into your budget:⁴

And, if you’re arranging your property purchase from the UK, you’ll need a safe, reliable and preferably low-cost way to send over fees, deposits and other payments.

The Wise account could be a great solution, with transparent, low fees, and multiple layers of security, so you can safely transfer large amounts both in the UK and overseas.

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Taxes and fees for owning property

Once you’ve bought your Australian property and paid all those initial costs, you’ll also have some ongoing fees and taxes to cover as a property owner.

This includes annual land tax, the rates of which vary by state. This isn’t usually charged for primary residences. In some states, there’s also a surcharge land tax for foreign owners.

If you rent out the property, you may also pay personal income tax as a landlord.

Loans and mortgages for non-residents

Australian banks and other lenders do offer mortgages to foreigners and non-residents, but the conditions and requirements may differ compared to applying as a local.

For example, some banks may ask for a 30% to 40% deposit from foreign applicants⁵ - compared to the 20% usually asked. Interest rates may also be higher, and you may be asked for more paperwork - including proof of ATO approval.

Risks and pitfalls of buying property in Australia

One of the main things to watch out for when buying property abroad are scams.

To avoid these, it’s strongly recommended to work with qualified and credible professionals such as real estate agents and solicitors.

Ideally, you should also check for a licence and/or membership of a professional body when working with any property experts, brokers or agents.

The good news is that the Aussie property industry is strictly regulated - which should in theory make it safer to buy and sell property in Australia.

In particular, real estate agents need to adhere to strict codes of conduct and ethical standards. This means greater transparency in the purchasing process, more accurate information and a lower risk of fraudulent transactions.

But there are still some potential pitfalls and risks you should look out for, including the following:

• The FIRB and ATO regulations. As a foreign purchaser, you need to be up to speed with the Foreign Investment Review Board (FIRB) regulations. These stipulate who can buy property in the country, as well as the types of property you can purchase as a foreigner. Make sure to read every scrap of info before starting your search.
• Risks and impacts of ‘bushfire zoning’. Certain parts of Australia are designated as bushfire risk zones, and properties in these zones can be subject to higher insurance premiums and stricter building codes.
• Termite risks. Termites can be a major problem for Australian homeowners, even causing serious structural damage. This is why it's so important to get a pest report before purchasing.
• Unexpectedly high costs. Many states have surcharges on stamp duty and/or annual land tax for foreigners, and these can catch you out if you haven’t budgeted for them.

Moving into your Australian property

Before you can get the keys to your new home, you’ll have a final few tasks to check off your list.

Insurance

It’s strongly recommended to take out a buildings insurance policy starting from your completion date. In fact, you might find it's a mandatory condition of your mortgage offer.

Setting up utilities

If you know when your completion date will be, it makes sense to get some essentials set up in advance of your move-in date.

A prime example is utilities, such as heating, power and water. Get these sorted as early as you can, and the moving process should be a little smoother.

Energy efficiency renovations

If you’ve bought an older Australian property, you might want to make some energy efficiency improvements to it. For example, improving the insulation, upgrading the windows or installing a new air conditioning system.

Key takeaways

• Foreign nationals are generally banned from buying existing homes until March 2027; however, you can legally purchase new properties, vacant land, or existing homes specifically for redevelopment.
• You must apply for ATO (Australian Taxation Office) approval before signing a contract; this process involves a significant application fee ranging from $4,500 to over $1.25 million, depending on the property value.
• Beyond standard costs, foreign buyers face a Foreign Buyer Surcharge on Stamp Duty of between 7% and 9%, effectively doubling the tax burden compared to local residents.
• The Australian real estate market is currently a seller’s market, with house prices rising for 13 consecutive months as of March 2026 and a 11% nationwide increase over the last year.
• Mortgage requirements for non-residents are stricter, often requiring a 30% to 40% deposit and involving higher interest rates and more extensive paperwork than for residents.
• It is critical to conduct pest and building inspections before settlement to identify structural issues or termite risks, and to check if the property sits within a bushfire risk zone.

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Sources used:

1. Australian Taxation Office - Types of property a foreign person can buy
2. Australian Government - Foreign Investment in Australia - Residential real estate
3. Property Update - March Home Prices Still Rising | Latest stats from Dr. Andrew Wilson
4. Property Update - The latest median property prices in Australia’s major cities
5. Instarem - Foreigners buying property in Australia: rules & costs explained
6. Realestate.com.au - How long does it take to buy a home?
7. Australian Taxation Office - Apply to buy residential property as a foreign person
8. Stamp Duty Calculator - Australia
9. Money.co.au - Home Loan Fees Explained
10. Australian Taxation Office - Residential fees for a foreign person

Sources last checked 3-Apr-2026