More foreign investors purchased a property in a new Victorian estate or development than local investors did in the first three months of 2024.

And with a report from the nation’s third biggest bank also showing the share of first-home buyers tackling new builds across the state is the lowest in the country at 22 per cent, there are signs pressure is rising on the city’s most affordably-priced homes going under the hammer.

The first NAB Residential Property Survey for 2024 found just 8.6 per cent of new home sales in the first three months of the year had been to investors, while 10 per cent had been to internationals.

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