Bankwest research reveals shift in home-buying preferences because of COVID-19

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Bankwest research reveals shift in home-buying preferences because of COVID-19


The COVID-19 pandemic has triggered a major shift in home-buying preferences that assist extra ladies working from residence, Bankwest’s House Truths Report has revealed.

The survey of greater than 1,700 Australians, with a give attention to WA, revealed that there was a paradigm shift in housing preferences as a result of pandemic, with 44% of WA respondents saying working from residence had modified what they desired in a great property. That determine will increase for WA’s millennials and Gen-Zs, with 50% and 76%, respectively, saying the impacts of the pandemic had modified their preferences.

1 / 4 of the respondents reported working from residence at the least as soon as every week, with 50% confirming the pandemic resulted in a rise in performing their function remotely.

With the pandemic shifting the accepted social norms of versatile working, the house options Western Australians thought of vital had additionally modified, with 91% in search of extra space/rooms. A devoted research/residence workplace has develop into probably the most fascinating characteristic, with 53% of the respondents labelling it as vital, whereas 34% mentioned it was crucial consideration.

The pandemic additionally impacted the housing preferences and dealing patterns of Australian women and men in another way, with extra of the latter working from residence and wanting extra space.

Some 27% of WA’s ladies mentioned they work at home at the least as soon as every week, with 54% saying that elevated because of COVID-19, in comparison with 22% and 47% of males, respectively. The largest distinction was within the characteristic they thought of as extra vital, with extra ladies nationally (47%) contemplating research/residence workplace as vital in comparison with males (30%).

“Western Australians have proven unimaginable resilience all through the worldwide pandemic, constantly adapting to handle continually altering situations,” mentioned Peter Bouhlas (pictured above), Bankwest basic supervisor homebuying. “These House Truths insights recommend that these modifications have additionally prolonged to individuals’s housing preferences in response to a broader acceptance of versatile working preparations because of pandemic well being measures.

“Elevated necessities to work at home possible uncovered the inadequacies of many homes to perform as a fulltime workplace, just because our properties weren’t designed to be workplaces. Versatile working has develop into extra broadly accepted because of COVID and this knowledge exhibits extra persons are working flexibly, so it is smart that extra of us are contemplating and prioritising options that allow us to try this.

“We additionally understand how vital a optimistic versatile tradition is to enabling ladies to take part within the office, and these figures present that extra ladies have adopted versatile working following the pandemic.”

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