Austin has scored the bulk of QPR's goals this term, but Redknapp believes that Matt Phillips' performances will ensure that a top-flight club buys him should the R's go down.
At the moment Chris Ramsey's side are firmly lodged in the relegation zone and Redknapp has warned QPR supporters to expect departures should they fail to escape the drop.
"If QPR go down, Austin won’t be the only player with plenty of suitors. Matt Phillips has been scoring and setting up good goals in the run-in. He is a useful Premier League player," Redknapp said.
Phillips was actually a reserve player under Harry Redknapp, so Ramsey should be praised for the job he has done with the winger.
Ramsey has made him a key part of his first-team plans and Phillips has rewarded him for it, with the trickster providing plenty of chances of his teammates.
Phillips' form has helped QPR improve since Ramsey has taken over, but it may be too little too late for the London club.
At the moment the R's are four points away from safety and with games against Liverpool and Manchester City to come, their survival chances are starting to look bleak.