On this lead the two differ by definition. Most of the time the arrow points north or west, and the reasons are in the population and lending data, not in anyone's opinion.
What 'lives in' and 'looking at' mean on the lead
Lives in is where the investor is now: the city they gave as home. Looking at is what they typed as their location interest. It might be a city, a state, or a phrase like wherever the yield is, and we record it as written.
When the two match, the lead goes to a local advisory. When they differ, it is an interstate lead, matched to an advisory that agreed to cover the second city. An enquiry from a Sydney address about Perth is a Perth lead.
Why does the enquiry usually point north or west?
People are moving that way. Greater Perth grew by 2.4% in 2024-25, the highest rate of any capital, and Greater Brisbane by 2.1%. Greater Melbourne grew by 2.0% and Greater Sydney by 1.4%, on the ABS regional population release. An investor in Sydney or Melbourne reads those figures and looks at a map.
The entry price points the same way. In the June quarter 2026 the average new investor loan was $851,000 in New South Wales, $713,000 in Queensland and $678,000 in Western Australia, on the ABS lending indicators. A Sydney budget buys something different in Brisbane, and the investor knows it.
What the interstate investor states
The fields are the same as any other lead. What marks this one is the gap between home and target, and the reason the investor gives for it.
- Goal, in their own words, which usually names the target city and a reason: growth, yield or price
- Budget range, as stated, set with the home city's prices in mind
- Deposit or equity position, as stated, often equity in the home they live in
- Timeframe, which tends to be firm, because looking elsewhere was already a decision
- Where they live and where they are looking, both as stated
The first call is about the second city
The investor did not enquire to talk about home. They have read about the city they named, they have a view on it, and they want to know whether it is right. Open there. A call that starts with the investor's own suburb tells them you did not read the brief.
Once the second city is on the table, the plan can widen. Is the target the right one? What does the budget buy there? How is a property managed from another state, and what do land tax rules do across a border? Those are adviser questions, and the investor will ask them if you do not.
Matching the lead to the markets you cover
Before anything runs, you tell us the cities you advise on. An interstate lead is matched on the looking at field, so a Melbourne firm that covers Brisbane receives the Melbourne investor looking at Brisbane. A firm that covers only its home city never sees them.
Each lead is checked for a working Australian mobile and sent to one advisory by SMS and email the moment it arrives. It is never shared or resold. You pay one agreed price per lead with no retainer, no lock in and no minimum term. If the target city is outside the markets you agreed, flag it within five business days and it is replaced or credited.