Australian home hunters are increasingly looking for a home in a suburb, far from the city center.
The ability to work from home instead of traveling to the office of a central business district is changing buyer’s tastes, data from online sales site Domain shows.
This change has been especially pronounced in Sydney’s far south west, where serious searches – including home inspections and multiple property listings – are up 27.3 percent in the four weeks to September 6.
Australian home hunters are increasingly looking for a home in a suburb, far from the city center. In Sydney’s far southwest, where serious searches – including home inspections and multiple viewings of property listings – are up 27.3 percent in the four weeks to September 6. Pictured is a house in Picton
Buyers’ interest in the Wollondilly Shire Council area – with the cities of Picton, Tahmoor and Bargo – was nearly three times higher than Sydney’s average monthly increase of 9.5 percent.
Suburbs that seduce potential buyers
Wollondilly Shire, outside of south-west Sydney: 27.3 percent higher
Mudgeeraba and Tallebudgera, Gold Coast hinterland: up 44.3 percent
Weston Creek, western Canberra: up 13.9 percent
Playford City, North Adelaide: up 31.2 percent
Source: Domain Buyer Demand Indicator of serious house searches in the four weeks to September 6
Since the start of the COVID-19 pandemic in mid-March, buyer interest in this bushland along the Old Hume Highway has risen 73.7 percent.
Picton’s median home price of $ 617,000 is also much cheaper than Sydney’s $ 986,000 median home price, CoreLogic data showed.
Domain senior research analyst Nicola Powell said white-collar professionals who could work from home were increasingly drawn to suburbs that offered lifestyle and value.
“Lifestyle locations that offer affordability where buyers can purchase larger blocks, people see these outdoor areas,” Dr. Powell to Daily Mail Australia.
‘Working from home has become the new normal, so they are starting to look further and further away.’
Sydney’s suburbs in particular became more attractive as the digital transformation of workplaces eliminated the need for a long journey to work.
“While a change of tree or sea through higher density life has always been attractive, commuting into town has been a strong enough deterrent for many,” said Dr. Powell.
“Many Sydneysiders will continue to work from home or split part-time, making the distance between home and work less crucial.”
The Gold Coast hinterland was also popular with potential buyers, with serious searches in Mudgeeraba and Tallebudgera (house pictured) up 44.3 percent in just four weeks – significantly more than the nearby 1.4 percent increase in Brisbane. Dedicated searches are up 172.7 percent since the start of the coronavirus crisis six months ago
The Gold Coast hinterland was also popular with potential buyers, with serious searches in the Mudgeeraba and Tallebudgera areas up 44.3 percent in just four weeks – significantly more than the 1.4 percent increase near Brisbane .
Dedicated searches are up 172.7 percent since the start of the coronavirus crisis six months ago.
Buyer’s interest by city
SYDNEY: Homes up 9.5 percent, units up 4.5 percent
MELBOURNE: Homes down 13.8 percent, units down 19.7 percent
BRISBANE: Homes up 1.4 percent, units up 9.6 percent
PERTH: Homes up 11.4 percent, units up 18.4 percent
ADELAIDE: Homes at 31.2 percent, units at 14.1 percent
CANBERRA: Homes up 4.9 percent, units down 1.0 percent
HOBART: Homes down 4.3 percent, units down 6.3 percent
DARWIN: Homes at 43.7 percent, units at 29.1 percent
Source: Domain Buyer Demand Indicator for the four weeks to September 6 based on advanced searches
Home of federal officials, Canberra is also on the trend with buyer interest in Weston Creek’s western suburbs up 13.9 percent – more than double the Australian Capital Territory’s monthly increase of 4.9 percent .
Adelaide’s northern suburbs were also popular, with buyer interest rising 49.3 percent in the Playford neighborhood, which includes poorer suburbs such as Elizabeth.
This was an even bigger increase than the South Australian capital’s already impressive 31.2 percent.
Melbourne was the only capital to see a plunge in both housing and apartment interests, following phase four lockdown bans since August 2 at open house inspections and public auctions in the city.
Interest in homes fell 13.8 percent in four weeks, with the slump even more severe than in April during the first full month of the earlier lockdowns.
Dr. Powell attributed that to the fact that potential buyers were uncomfortable buying a home they had not seen.
She expected a ‘pretty quick’ rebound to take place, particularly in the Mornington Peninsula on the edge of Port Phillip Bay as Victoria relaxed restrictions on the coronavirus and managed to contain the virus.
“ Once lives are close to normal again commuting to the office will play a less critical role in determining where we live, it could be one of the reasons for a shift in demand to the Mornington Peninsula, ” she said .
“Although the lockdown is forced to work from home, the concept will probably remain for companies that can switch permanently.”
Regional Victoria markets saw strong interest from buyers, despite banning groups of ten or more people.
Warrnambool, at the western end of the Great Ocean Road, saw a 63.3 percent monthly increase in serious inquiries from buyers.
Home to federal officials, Canberra is also on the trend with buyer interest in the western suburbs of Weston Creek (pictured) at 13.9 percent – more than double the Australian Capital Territory’s monthly increase of 4, 9 percent