COVID 2022 – HOW PANDEMIC CHANGED AUSSIE ‘RELATIONSHIP WITH PROPERTY’ AND WHAT IT MEANS FOR YEAR AHEAD

Home offices, larger blocks and low density locations further from the city have become prized features in properties as the Covid pandemic reshapes Aussie housing preferences.

A poll by CoreData, commissioned by Mortgage Choice, showed home buyers were looking at new attributes when considering houses, largely because of work from home arrangements. The research revealed 42 per cent of those surveyed said they wanted a property with an extra room to double up as a home office.  And just over a third wanted more space, while another third wanted a home in a sea- or tree-change location.  Nearly a quarter (23 per cent) said that living close to the CBD was a lower priority.

Mortgage Choice and Smartline CEO Susan Mitchell said Covid redefined Aussies’ relationship with property. “Our latest research has shown that the demands of working from home over the last two years has changed homebuyers’ preferences when choosing what type of property they look to buy,” she said.  The Mortgage Choice data echoed research by realestate.com.au’s research arm PropTrack, which revealed house prices climbed at a faster pace than units at the start of the pandemic.

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