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Property investors need to be aware how the COVID-19 pandemic changed the preferences of Australian homebuyers.<\/p>\n
The latest research from NAB found around one in 10 Australians have moved because of the pandemic and are not planning to return.<\/p>\n
Around one in five Australians said having a study or work area or living in a regional area is crucial amid the current conditions.<\/p>\n
NAB executive for homeownership Andy Kerr said the findings of the study reflect how the flexible working trend provides opportunities for Australians to live wherever they like.<\/p>\n
\u201cWithout the daily commute, people are looking at the suburbs that haven\u2019t been available in the past as a viable option to actually own a piece of land and build a house,\u201d Mr Kerr said.<\/p>\n
\u201cAustralians also clearly value lifestyle choices, having that work-life balance and being closer to family.\u201d<\/p>\n
Top reasons for moving<\/h2>\n
Interestingly, around two in five Australians who moved were driven by the lifestyle of their target market.<\/p>\n
Roughly a third of those who moved said they are considering their families\u2019 well-being.<\/p>\n
Around the same share of owners moved for employment purposes.<\/p>\n
\u201cQueensland and South Australia have largely avoided lockdowns and restrictions and offer the lifestyle benefits unique to both states,\u201d Mr Kerr said.<\/p>\n
Meanwhile, New South Wales continues to attract local and interstate buyers who are looking for work opportunities.<\/p>\n
On the other hand, around 20% of buyers from Victoria wanted to move to regional areas or in other state to avoid lockdowns.<\/p>\n
\u201cMany moved to the regions with areas like Geelong, the Surf Coast and Mornington<\/a> Peninsula proving popular,\u201d Mr Kerr said.<\/p>\n In South Australia, around 51% of buyers would like to buy a house instead of apartments.<\/p>\n This was the highest proportion of buyers preferring houses over apartments.<\/p>\n Overall, only two in five buyers are looking to buy a detached home.<\/p>\n The study also found that more than 50% of Australian buyers would like to live near the local caf\u00e9 and shopping centre.<\/p>\n \u201cPublic transport is also a big factor in both NSW and Victoria and our data tells us that suburbs near train and tram lines in both states offer great value to purchase a home or apartment,\u201d Mr Kerr said.<\/p>\n \u201cApartment living was popular in both NSW and the ACT with plenty of opportunities to find a bargain in both states.\u201d<\/p>\n \u201cThose living in Sydney can find more affordable options in apartments given the rise in house prices in 2021.\u201d<\/p>\n \u2014<\/p>\n Photo by Roberto Nickson on Unsplash<\/p>\n<\/p><\/div>\n
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<\/p>\nWhat homebuyers are looking for<\/strong><\/h2>\n
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\n Top Suburbs :
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\n greenwood<\/a>
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\n west wodonga<\/a>
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\n reservoir<\/a>
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\n upper kedron<\/a>
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\n ,
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\n kariong<\/a>
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