Finder makes money from featured partners, but editorial opinions are our own.

Aussie home buyers focus on more than price growth


house coins seesawA new survey has revealed the features buyers prioritise when looking for a home, and it’s not capital growth.

Westpac’s 2016 Home Ownership Report has found the most important consideration for home buyers is staying within budget, with 80% tipping it as a top concern. Living in a safe neighbourhood (66%) and having a backyard (51%) were also high on the list of priorities for Australian home buyers.

“Our research indicates that in an increasingly competitive housing market, budget conscious home buyers are prioritising the enjoyment and lifestyle a particular home could bring. This may be through choosing a home with a backyard that has space to play in, or one in a safe and friendly neighbourhood,” Westpac Group head of home ownership Chris Screen said.

The report found that aesthetic features such as a modern kitchen or bathroom were seen by buyers as “nice to have”, but not essential. Likewise, not all buyers were focused on capital growth, as the importance of a home as a good investment was sharply split depending on the age of the respondents. For those looking to have a baby within the next two years, a home’s investment potential was listed as its second-most important feature, while those approaching retirement were more concerned with off-street parking and whether the home was “move-in ready”.

“It’s clear Australians place varied levels of importance on different aspects of a home at different stages of life, which is why when working out your budget it’s important to consider what the next few years may look like,” Screen said.

Other factors home buyers tipped as important were access to a quiet neighbourhood (55%), public transport (39%) and proximity to work (26%).

Latest home loans headlines

Image: Shutterstock

Find the right home loan now

Ask an Expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and 6. Finder Group Privacy & Cookies Policy.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Go to site