Buying property in Australia
Dreaming of relocating to the land down under? Australia offers a laid-back lifestyle, strong infrastructure, and a property market that appeals to relocators and long-term investors. Our property buying guide covers everything you need to know, including:
- Important considerations when buying a property in the USA
- Information on navigating local taxes, visas and other regulations
- A handy checklist for ensuring you’re on track
- Lots of other little tips to support your dream move
Why buy property in Australia?
Australia offers the perfect mix of natural beauty, modern cities, and relaxed living. From coastal escapes and wide-open countryside to buzzing urban hubs, it’s a country where space, sunshine, and opportunity go hand in hand. Buy a home here and embrace weekend barbecues, friendly neighbourhoods, and a lifestyle built around balance and wellbeing.
Outdoor lifestyle
With everything from surf beaches and national parks to vineyards and mountain trails, Australia is made for life outside and there’s no shortage of sunshine to enjoy it.
Work-life balance
Australia is known for its easy-going culture and strong focus on downtime. With shorter commutes and a culture that values time off, it’s easier to enjoy what really matters.
Strong economy
Australia combines a robust and stable economy with high-quality public services, ranging from world-class healthcare and education to modern infrastructure, which supports a high standard of living.
Can UK residents buy property in Australia?
Yes, UK citizens can buy property in Australia, even if they’re not residents. However, foreign buyers may need approval from the Foreign Investment Review Board (FIRB) before purchasing, especially for new builds or off-plan homes.
If you’re planning to live in the property long-term, you’ll also need to check visa eligibility requirements.
What kind of VISA will I need?
UK citizens can stay in Australia for up to 90 days on a tourist visa, but if you’re planning to stay longer, whether to live, work, or retire, you’ll need the appropriate visa.
Skilled Migration Visa: Ideal if you plan to work in Australia and meet the skills criteria in a shortage area. This visa can open the door to permanent residency.
Family Visa: If you have close family members who are Australian citizens or permanent residents, you may be eligible for a family or partner visa.
Business Visa: For those looking to invest or run a business in Australia, there are specific visa streams that support entrepreneurial and investor migration.
Note that buying a property doesn’t automatically qualify you for residency. Be sure to check the latest visa requirements via the Australian Department of Home Affairs.
The information provided is for general information purposes and does not constitute legal, tax or other professional advice from Lumon, and it is not intended as a substitute for obtaining advice. it is recommended you seek professional advice from a financial advisor or any other professional.
Where to buy property in Australia
Perth
Laid-back and affordable, Perth offers coastal living, a strong local economy, and a growing expat community.
Adelaide
Known for its festivals, vineyards, and easy pace of life, Adelaide is one of Australia’s most affordable capital cities.
Melbourne
A cultural hub with great food, nightlife, and ample job opportunities, Melbourne is ideal for professionals and creatives.
Canberra
Australia’s capital blends green space with a skilled workforce, making it a top choice for families and professionals alike.
Sydney
Dynamic, global, and highly sought-after. Expect premium prices in exchange for stunning harbours, beaches and career prospects.
Gold Coast
With sun, surf, and a relaxed lifestyle, the Gold Coast is popular with both retirees and remote workers seeking coastal calm.
Brisbane
A growing city with a warm climate, strong infrastructure, and increasing property investment opportunities.
Currency exchange considerations for UK buyers
At Lumon, we’re here to simplify the currency side of your property purchase, helping you transfer funds overseas with ease.
Learn how exchange rates could affect your budget
The exchange rate changes constantly and even small fluctuations in the rate can have a big impact on your budget. You can visit our live exchange rate page to track where the GBP to AUD interbank rate is today.
Make smooth, hassle-free property payments
From your first deposit to your final transfer, we make it simple to send money abroad with confidence, in a way that works for you. Learn more about your options for sending money to Australia.
How to plan for costs when buying property in Australia
Our buying guide for Australia goes into depth about how to buy property there and what to factor in, including:
Set your budget: Factor in the purchase price, stamp duty, legal fees, FIRB application charges (if applicable), and moving costs.
Understand local costs: Costs vary by state, property type, and whether you’re buying a home to live in or as an investment. Be sure to research fees in your chosen area.
Have your deposit ready: Having funds available early gives you more confidence when it’s time to make an offer.
Frequently asked questions
Is buying property in Australia a good investment?
It can be, especially in high-growth areas like Brisbane, Perth, or regional hubs with strong infrastructure and job markets. Whether you’re buying as an investor or planning a future move, it’s important to research local markets, rental yields, and long-term trends before you commit.
Can I buy property in Australia as a non-resident?
Yes, there are opportunities for UK citizens to buy property in Australia even if they’re not residents. However, you’ll likely need approval from the Foreign Investment Review Board (FIRB), and there may be restrictions depending on the type of property you’re buying. Most non-residents are limited to purchasing new builds or off-plan homes.
Do you pay UK stamp duty on property in Australia?
No, UK stamp duty only applies to property purchased in the UK. However, Australia has its own stamp duty and purchase-related fees, which vary by state or territory, so it’s important to factor those into your budget.
Do I have to declare a Australian property to HMRC?
You don’t need to declare the property itself, but if you earn rental income or sell it for a profit, you may be liable for UK tax. You’ll need to report this to HMRC, and depending on your situation, capital gains tax may apply.
How can I reduce UK tax on my Australian property?
If you’re a UK tax resident, income or gains from your Australian property may still be taxable in the UK. However, thanks to the UK-Australia double taxation agreement, you may be able to offset some of your liability. A tax adviser can help you make the most of any allowances.
Can I get a mortgage to buy property in Australia?
Yes, you can apply for a mortgage through an Australian lender, but the process may vary if you’re not a resident. You’ll likely need a larger deposit, and currency fluctuations can affect repayments if your income is in GBP. An international mortgage broker or financial adviser can help you explore your options.
The step-by-step process of buying property in Australia
1. Set your budget
Factor in not just the property price, but also stamp duty, FIRB application fees (if required), legal costs, and currency exchange. A clear budget helps you avoid surprises later on.
2. Pick your location
From buzzing city life in Melbourne to beachside living on the Gold Coast, Australia offers a wide range of lifestyles. Think about climate, job opportunities, community, and property prices.
3. Get your paperwork ready
You may need FIRB approval before purchasing, and opening an Australian bank account is often required to manage payments. You’ll also need a tax file number (TFN) if renting the property out.
4. Make an offer and appoint a lawyer
Once you’ve found the right property, you’ll negotiate through an agent and sign a contract. An independent solicitor or conveyancer will help manage legal checks and guide you through local regulations.
5. Transfer your funds and complete the purchase
A Lumon currency specialist can help you secure a strong rate and avoid hidden fees. Once payment is made and contracts are signed, the keys are yours.
Working with Lumon – your trusted currency partner
Our team of currency specialists have the local market knowledge to help you navigate the process of buying a property in Australia. With over 25 years of international property experience, we’re here to help make the process hassle-free.
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Your property buying guide
Our property buying guide is packed with information and resources to support you on your property journey, including:
- Important considerations when buying a property in Australia
- Information on navigating local taxes, visas and other regulations
- A handy checklist for ensuring you’re on track
- Lots of other little tips to support your dream move
