How did Aussies change in terms of their home buying and rental search behaviours over the pandemic?
Well, according to Anna Flaherty, Economist at REA, "the way Australians live and work has changed significantly in recent years – and the features we look for in our homes along with it."
In fact, based on REA's data, among buyers, “pool” was the most searched term over the September quarter, included in close to a third of all keyword searches.
Unsurprisingly, searches for pools tend to dip in the winter and peak in the summer – presumably because the need to cool off is more front of mind.
The same seasonal trends can be seen in searches for “air-conditioning” and “heating”.
On the other hand, "pet-friendly" searches take the top spot for those who are looking to rent.
Ms Flaherty commented:
"Pet friendly homes surged in popularity during the Covid pandemic.
Back in 2019, less than 10% of keyword searches related to pet friendly spaces, compared to a peak of 28% in mid-2020.
Demand for rentals where a furry friend is allowed have remained high ever since."
The "home office" search trend
Search trends for "studies" or "offices" have prevailed over the past year.
Obviously, this is predictable given the increase in working-from-home arrangements during Covid.
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There is no sign of this trend slowing.
Ms Flaherty said:
"Among both buyers and renters, searches pertaining to home offices have risen to new highs in 2022.
The growth has been strongest among buyers, where the share of office keyword searches was 25% higher in the September quarter compared to the same period last year."
Search trends during the pandemic have changed
Well, during lockdowns, both buyers and renters were increasingly searching for outdoor spaces such as yards, balconies, and rooftops.
But this year, searches for outdoor spaces have declined.
A similar trend has been seen in searches for “waterfront” and “beach”, which both peaked in 2021 before declining this year.
Ms Flaherty further commented:
"The shifting preferences of buyers and renters reflect many of the lifestyle changes driven by the pandemic.
Those aspects that have been permanently altered – such as working from home – will continue to see strong demand, while those desired features that were inspired by lockdowns are now reverting to pre-Covid norms."
Source of tables and commentary: REA Insights
