House hunting has hit “fever pitch” in Australia amid a remote working revolution, according to research by comparison website Finder. Its survey reveals that 1 in 5 are looking to purchase a property in the next 12 months. That’s equivalent to 3.8 million people planning to buy real estate in the near future.
CoreLogic data shows that regional property values are continuously outperforming those in capital cities, as an increasing number of city slickers seek out a “tree change” while working from home. Kate Browne, personal finance expert at Finder, says the results indicate that a post-pandemic housing boom is on the horizon.
“There’s a good chance we will see a deluge of people searching for properties, from those trying to get their foot in the market, to seasoned upgraders,” she says. “Potential buyers could experience a shortage of listings and a spike in house values as demand outstrips supply.”
Finder’s research found that more males (23%) than females (17%) have their sights set on buying property. Around a third of millennials (32%) are hoping to enter the market.