As our work and lifestyle needs change, buyers are reconsidering what’s most important to them in their next home.
There has been an exceptional amount of activity in the property market this year. With international travel no longer an option and uncertainty around border closures, people are spending more time at home, than ever before.
It seems Australians have money to burn but can’t spend it how they normally would.
Coupled with record low-interest rates, people are motivated to buy a home that better suits their changing lifestyle needs.
In a recent survey conducted by realestate.com.au, it was found that 76% of Australians made changes to their home or life, during the lockdowns.
Additionally, 50% of Australians indicated they would like their home to have different features.
What features are buyers looking for in a home?
The Property Seeker Survey revealed the following top features buyers are looking for when searching for a home.
More Natural Light
The most important feature buyers are looking for in 2021, was more natural light. As people focussed more on their home and wellbeing, their desire to connect with the natural environment increased.
Wide windows framing leafy surrounds as well as north-facing living and entertaining areas, were sought-after features.
Home Office Space
It’s no surprise that as people adapt to more flexible working arrangements, purpose-built studies and home offices are high on many buyers’ checklist. The word “study” is now the most searched property feature on realestate.com.au, with buyers looking for homes that are equipped for both work and lifestyle.
More Living Spaces
Buyers are also searching for additional living spaces in their next home. Particularly important for growing families, buyers are realising a need for a variety of living zones. Multiple zones allow enough room for everyone to relax in privacy.
Larger Outdoor Spaces
Although buyers seek space for the family to unwind, they also want an area of the home which will bring everyone together. In Queensland, this has always been the outdoors. Generous entertaining areas, sun-drenched pools and apartment balconies are highly desirable.
Who is looking to buy property?
Upsizers
Families upgrading their homes continue to be the most dominant buyers in the market at the moment. In most suburbs across Brisbane, these buyers are predominately searching for 4+ bedroom homes, to meet there needs.
As their children grow, school catchment zones and proximity to educational facilities is of particular importance to this demographic.
Downsizers
On the back of the strong growth we have seen in the past 12 months, we have seen many people entering retirement realise their strong capital gains and begun searching for lower maintenance homes. Either looking for tidy townhomes or apartments in their current community or beginning to look regional and moving to either the Sunshine or Gold Coast.
First Home Buyers
Low-interest rates and government incentives, which are often adding up to thousands of dollars in savings, has driven an influx of First Home Buyers. Particularly towards off-the-plan apartments and House & Land Packages on the back of the home builder grants.
Investors
Property investors have made a comeback in 2021, accounting for approximately 19% of all buyers as they dip their toes back into the market after a quiet 2020.
Between February and March, investor lending rose by 12% which is the highest increase that has been experienced in many years.
In the current market, investors are favouring large lot houses over inner-city apartments which were a previous favourite, as well as original houses on land with development potential.
There are buyers looking for homes like yours
Understanding who is in the market and what they are looking for in a property is the first step towards realising your home’s true potential.
With our experience, we have developed an extensive, in-depth understanding of what different buyers are looking for, across the various property types located across Brisbane.
We help owners identify the buyers that they will likely appeal to through our comprehensive Suburb Reports. We also provide owners with an independent appraisal they can trust, from someone who isn't just trying your listing. Furthermore, as Buyers Agents, we give owners the opportunity to sell their property off-market, through our network of buyers, with no agency fees to pay. Instantly pocketing an extra 2-3% on the sale of their property.
By doing these things, we help our clients achieve the best results possible.
Whether you already own property or you’re looking at buying your next home or investment property here’s 4 ways, we can help you:
Strategic property advice – Allow us to build a Strategic Property Plan tailored for you and your family. Planning brings the future into the present so you can do something about it! This will give you clarity, direction, results and more certainty. Click here to find out more
Buyer’s agency –Our highly skilled and trained on the ground team in South East Queensland brings you years of experience and perspective. We’ll help you find your next home or investment property. Click here to find out more
Property Management – Our stress-free property management services help you maximise your property returns. As Qualified Property Investment Advisors, we will ensure you understand how your property is tracking from all aspects, value not matched in the market. Click here for your free rental appraisal and find out more.
Sellers Advocacy - A free service where we help identify the right agent to sell your property at any given point in time, based on a variety of agent checks. We will also help you understand what points are more negotiable with sales agents. On top of this, we will provide a free sales appraisal and $500 cash!
