The trend towards working remotely is impacting the design of homes. Research indicates that Aussies are more likely to buy a home that has a designated office area.
According to a research paper from ANZ and statistics from HIA Economics, of the 44% of builders who have noticed a change in home buying preferences, almost half say the change has been inspired by increasing interest in home offices or study nooks.
ANZ says the changing preferences are a result of the increase in home-based working following the pandemic lockdowns, as well as heightened appreciation of more space at home. Of the 44% of builders noting a buyer shift, around 30% say buyers now prefer additional living spaces.
As for overall market growth, ANZ predicts that a combination of the improving economy, government assistance and cheap credit will continue to drive the housing market in 2021, with prices set to grow by around 17%, as an average across the capital cities.