THE COSTS OF SPACE AS AUSSIE BUYERS CRAVE BIGGER HOMES POST-COVID

Australians are placing greater value on property size as they crave more space in the wake of the coronavirus pandemic, driving demand for larger homes and bigger blocks.   

Some homebuyers wanting the most space for their money are favouring outer suburbs and regional areas, particularly as the COVID-led lifestyle shift continues. But many others are prepared to pay more if it means getting a bigger home near a capital city centre, according to realestate.com.au economist Paul Ryan.   

“Within cities, we’ve seen the biggest demand push has been for bigger dwellings rather than to be closer to the outskirts,” Mr Ryan said.  

“People have wanted more space rather than necessarily wanting to be further away, so people will pay more for more space if it’s closer to the city still.”  

A new realestate.com.au analysis – which calculates each suburb’s median estimated price per square metre for houses – shows Australian homebuyers exactly where they will get more bang for their buck and where they’ll pay a pretty penny for a larger block.    To read the full article click here