Property Management Newsletter
RLA 150557
August 2020
The Home Buyer ‘Must-Haves’ Post-COVID-19
The South Australian Locations Where Homeowners Are Holding Onto Their Houses Longest
A crystal ball would be required to predict what life will be like after COVID-19 but when it comes to what home buyers want in a post-pandemic world, patterns are beginning to emerge.
It’s right next to the beach and boasts good schools and great shopping – that’s why North Brighton homeowners are clinging to their houses longer than those in any other South Australian suburb or town.
New keyword search data from realestate.com.au shows a significant jump in nine (9) work-from-home-related property features during the pandemic – illustrating that home buyers are preparing for a future involving more time in the nest.
Latest realestate.com.au data shows property owners in the seaside suburb are turning over their houses every 16.3 years on average.
Nationally, outdoor space was front of mind for house hunters between April and June this year, with the keyword search for ‘outdoor’ showing a 41% increase compared to pre-pandemic times (January-March 2020). The large increase in searches for outdoor areas is likely due to people looking for more space after being cooped up during lockdown. Of the 9 work-from-home-related keyword searches, the desire to have a home gym and broadband connection ranked equal second between April and June (37% increase), closely followed by balconies (+36%) and studies (+31%), while gardens were in slightly less demand (+22%) but still experienced a bump in searches during the pandemic. Interestingly, the keyword search data showed a decrease nationally in demand for studios (-22%) and granny flats (-2%), which is attributed to a move away from short-term holiday rentals during the pandemic. Courtyards also saw less demand with a drop of -3% across the country.
Full story on www.realestate.com.au July 2020
The suburb’s location near the beach, quality schooling and proximity to Westfield Marion attracts people to the area – and makes them want to stay. An affordable price tag is another factor - you can still get more basic homes on a reasonable block for between $600,000 and $650,000. Second on the list of tightly held suburbs is Fulham, where houses are kept for 15.2 years on average. Homeowners in Malvern, Sefton Park, Glenelg South, Highgate and Maslin Beach stay put for just over 14 years on average. LONGEST HELD SUBURBS (Suburb - median house price, average hold period) North Brighton – $695,000, 16.3 years Fulham – $757,000, 15.2 years Malvern – $1,173,500, 14.9 years Sefton Park – $606,000, 14.7 years Glenelg South – $1.05 million, 14.6 years Highgate – $865,000, 14.2 years Maslin Beach – $467,750, 14.1 years Port Augusta – $142,500, 13.9 years Unley Park – $1.316 million, 13.7 years Glen Osmond – $972,500, 13.5 years Source: realestate.com.au July 2020