Entering 2020, many of us will experience significant change in one way or another throughout the course of the decade. In these next 10 years, many will get married, buy a car, start a new job, leave an old job, etc, but it is also a period where many people will make the ultimate investment – buying a home.
A lot can happen in a decade and Stockland has conducted a survey to find out the top trends that will shape the new era of Australian living.
1# Buy a house
Australians are starting the new decade positively when it comes to homeownership with about 40% planning to buy property in the next 10 years – 93% of which are under the age of 35.
“It’s great to see that homeownership remains a key goal for Australians. Purchasing your own home is still seen as a sense of security for many Australians and this won’t change anytime soon,” says Stephanie Vanin, General Manager Residential Sales at Stockland.
2# People might not stick around
Although a significant number of Aussies will be looking to purchase a home, they may not stay in the same area that they currently reside in. 36% are considering a move interstate with 44% (mostly NSW-based respondents) even open to a complete change of scenery across the border.
Reasons behind this potential migration are the possibilities for a better lifestyle, better job opportunities and paying less for the home you want.
3# Trade space for connection
We’re not talking about Wi-Fi connection, on the contrary, given the digital, constantly connected environment we live in, the majority will be looking for homes in more low-key areas.
The traditional large house with the huge backyard was – and for some still is – the ideal, even dream home. But in the 20s, over 60% will be willing to sacrifice that space and go for a smaller home if it means having a greater connection to neighbours and an overall community that has local parks and open spaces.
“People are increasingly looking for low-maintenance homes located within communities that offer great amenity, social connectivity and physical closeness with their neighbours and the wider community,” adds Vanin.
4# Keen for green
Not only will Australians sacrifice the big, green backyards, but they’ll also be more environmentally conscious. Looking back to the beginning of the 2010s, over half of the respondents agreed that sustainability and eco-friendly home features are factors that have become more important to them.
“Many features such as LED lighting and solar panels are also much more affordable today and buyers now understand the long terms cost benefits of these features for future energy savings to them and the broader benefits to the environment,” says Vanin.
What are your plans for this decade? Let us know in the comments.