New Report Reveals Your Hidden Drivers When It Comes To Investing In Property

Understanding what’s driving the decision-making process when it comes to buying or investing in property is a key component for successful property investing. There are always multiple factors to be aware of including our inherent ‘property drivers’ and understanding our hard wiring when it comes to property decision making. This month’s realestate.com.au’s Sense of Place survey shed some further light on what’s driving some of these decisions for Australians, when it comes to buying property.

It may not surprise you to learn that for couples, generally women have the final say when it comes to buying property. Interestingly, of the 1100 surveyed, more than half the women surveyed said that they would follow their heart over their head when it comes to buying real estate, whereas for almost two thirds of men surveyed, they would ignore their heart preferring to go with their head.

The survey suggests that a property’s suitability for raising a family, celebrating children’s milestones, enjoying Christmas and the like – are more likely to be factored in by female buyers.

Overall, choosing the right neighbourhood was considered the most important factor driving the decision-making process with 27 per cent of respondents choosing neighbourhood, while lifestyle came in second with 21 per cent and price third with 19 per cent.

Interestingly, people are prepared to travel more these days with only 14 per cent of those surveyed indicating that proximity to family and friends as the most important factor.

Younger Australians voted that their favourite place in the home to be the bedroom; with 40 percent of older Australians (30 years and older) consider the living room their favourite room in the house.

Is The High Cost Of Downsizing For Older Australians Causing A Glut Of Large Homes Being Underutilised In Sydney And Melbourne?

large homes being underutilised
An estimated 100,000 large houses are being occupied by 65 years and older senior residents in Sydney and Melbourne, reveals a new report by a Fairfax Media analyst. While governments continue to search for answers to the current housing affordability crisis, properties as large as six-bedroom homes are being occupied by one resident year-round, Australian Bureau of Statistics figures reveal. Continue reading…

Time To Get Your Finance In Order Before The Spring Lending Season

Time To Get Your Finance In Order With Plan Assist
If you’ve been thinking of investing in property, then now is the time to start organising your finance before the busy spring borrowing and buying period hits our Australian lenders. Continue reading…

The Northern Rivers Region Of NSW Is Proving An Affordable Alternative To Heated City Prices

Plan Assist Byron Bay & Lismore
What a difference a decade makes in the Australian housing market. Back then, more than half of all capital city houses and more than 60 per cent of all capital city units sold for under $400,000.

Today, this type of capital city housing, below $400,000, is becoming increasingly harder to find without long commute times from the outer suburbs, whereas these decade old city ratios still hold true today for many ‘affordable’ regional areas – including the Northern Rivers Region of New South Wales. Continue reading…

Wollongong Housing Market Booms As Sydneysiders Relocate For More Value

Plan Assist Woolongong Housing Market Up 16 per cent
Wollongong has recorded the highest jump in home prices across Australia for the past 12 months, knocking off Sydney for the fastest growing house price title for the first time, according to new data released by CoreLogic.

Cashed up Sydney buyers, benefiting from the past four years of strong growth in their local market, are heading south into the Illawarra region, pushing up Wollongong prices and outbidding locals to create the third most expensive metropolitan area behind Sydney and Melbourne. Continue reading…

Not surprisingly, finding the right location, location, location that suits your lifestyle remains the key driver for buyers from this latest survey when choosing a house or apartment to call home.

All the best on your investing journey.

Yours always,

Harry Charalambous
CEO – Plan Assist Property Team

 

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