Three things

One…Buyer profile

Table 1 outlines the spread of buyer types for both new homes and established digs across Australia.

The table also forecasts market size by buyer type this time next year.

When it comes to new homes expect less first home buying activity over the next twelve months; steady action regarding other owner residents plus overseas interest but a rise in domestic investors as some dwellings experience a fall in price and generic rents rise providing better gross rental returns.

Two…Housing constraints

Table 2 outlines what is currently restricting new housing projects and the established dwelling market.

Little surprise that interest rates are a brake on both markets.  Labour availability and construction prices are also still retarding new development.

Three…What’s important

Table 3 outlines what’s important when people are deciding to buy a home.

How much a buyer can borrow tops the list.

Interestingly energy efficiency – for most – is way down the inventory.

Buying factors that are trending – and in all three cases are becoming less important – include:  allotment size; having a dedicated study or work area or being in a regional location.

It seems that many of those theoretical lifelong changes brought on by Covid (and the range of associated restrictions) appear to have been somewhat temporary after all.

Shock and surprise!


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