The world has changed dramatically over the past 18 months and as a result, the types of homes people are wanting to buy has also seen a dramatic shift.
According to realesate.com.au, the most popular search term is now ‘study’, indicating that many people are clearly changing the way they work and live.
With lockdowns continuing to wreak havoc in Australia’s two most populous cities, large numbers of people are being forced to work from home and are now looking at homes that will help them do that.
Prior to COVID, the most popular short terms on realestate.com.au were pool, garage, waterfront, views and granny flat with the word study not even close to the top 10. Now homeowners are valuing extra space and the ability to work from home if required.
We’ve also started to see similar trends with huge interest in semi-regional areas that are located within driving distance from CBDs, allowing people to commute to work part-time while predominately working from home.
Real estate agent, Michael Clarke from Clarke and Humel in Sydney, told the Daily Mail, there has been a clear change in buyers’ behaviour in recent times.
“The pandemic has had a big effect because a lot of people were stuck staring at the same four walls for weeks on end.
“That made them think, ‘I can’t go overseas, I want to be looking at the very best four walls I possibly can… and if I’m going to be locked down within a 5km radius I want to be near a beach.’
“In January last year, a study didn’t necessarily add a substantial amount of value unless you could call it a bedroom.
“Whereas presently the most searched for term on realestate.com.au is ‘study’.”
Mr Humel also notes that across Sydney, areas that were once considered too far away are now becoming more popular as many homebuyers are now able to work from home.
“Historically, the eastern suburbs has outperformed Manly because of their proximity to the city.
“Now there’s a lot of people who don’t need to go to the city or only go two or three days a week and they’re saying the home-office is more important than the city office.
“They want to be in a better environment – and that’s part of the reason why the Manly market has gone so nuts.
“I’ve been in the industry 16 years and I’ve never seen anything like it.”