Identifying changing property buyer trends, with Dr. Nicola Powell
Nov 15, 2021
When you’re on the hunt for a new property, there are so many things to consider – location, amenities, capital growth potential and if it’s your home you may be wondering is there room for a zoom room or a man cave?
So, what are property buyers looking for when they search sites like domain.com.au? That’s what I’m going to be chatting today about with Dr. Nicola Powell, the Senior Research Analyst at Domain.
We will also be discussing other buyer trends that Nicola has uncovered in her research including what buyers are looking for in their neighbourhood, the move to regional Australia, and locations that have significantly outperformed household income.
This is the type of information that will be valuable for you with your beginning or an experienced property investor, so welcome to today’s show.
What Nicola’s Research Uncovered
How will the pandemic shape consumer behaviour in the future?
I think we will be looking for different things in our homes, in our real estate, and in our neighbourhood, but to better understand what people are searching for when looking for their next home I’m looking forward to my chat with Dr. Nicola Powell, Senior Research Analyst for Domain.
Nicola is the leading force behind Domain’s data reports that keep the Australian public up to date on what’s happening in the market. She is a well-known property expert, featuring regularly on broadcast and in print media, as well as Domain’s media channels.
Buyer trends we discuss
- 2021 was the busiest first half of a calendar year on record with sales soaring above the decade average by 28% across the combined capitals and 60% in regional Australia.
- The Domain Buyer Demand Index for combined capitals reached a peak in March, highlighting the strong buyer competition seen earlier in the year.
- The peak in buyer demand occurred at different times across the capitals.
- Sydney and Melbourne reached a peak in buyer demand sooner than the other cities.
- Buyer demand in Canberra and Darwin remains higher than the other cities, reflecting the underlying demand that remains.
- While current demand across the combined capitals is 17% below the March peak, it has been elevated over winter.
- There is a strong correlation between the Domain BDI and new “for sale” listings.
- In Sydney, affordability has become a key restraint as buyer demand is now on par for houses and units following five months of heightened demand for houses.
- In a post-covid world, we’ve seen our suburbs become activated.
- The bigger the house, the greater the price growth.
- House prices in some of Australia’s more popular school catchment areas have soared by as much as 46% over the past 12 months.
- Parents are paying a premium for homes in locations that make their children eligible for enrolment in high-performing or popular government schools
- The data suggests certain school zone boundaries can have a significantly positive effect on house prices.
Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Dr. Nicola Powell – Chief of Research and Economics at Domain
Domain Group’s 2021 School Zones Report
Get a bundle of free eBooks and reports at www.PodcastBonus.com.au
Shownotes plus more here: Identifying changing property buyer trends, with Dr. Nicola Powell
Some of our favourite quotes from the show:
“The buyer demand peaked in March, which is interestingly when capital growth peaked.” – Michael Yardney
“I think I’ve noticed that more of us are looking back to the way previous generations lived.” – Michael Yardney
“It’s been a cycle of property upgraders.” – Michael Yardney
PLEASE LEAVE US A REVIEW
Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how