Home buyers are putting lifestyle first this Spring selling season, alongside traditional factors like location and size.
Domain’s research shows that while better suburbs (35 per cent), freestanding homes (26 per cent), and larger properties (26 per cent) remain top priorities, buyers are increasingly focused on features that enhance their specific lifestyle needs.
Property Editor at Domain, Alice Stolz said personal preferences are more important than ever this year.
“Location, bedroom count and home size are undoubtedly still important considerations for Aussies when it comes to buying a home, but Domain’s new research shows that people are also placing greater weight on other property elements that bring benefit to their own unique lifestyles,” Ms Stolz said.
The data also highlights the big generational differences in home-buying preferences.
Gen Z (48 per cent) and Gen X (39 per cent) prioritise better locations, while Millennials seek larger homes (37 per cent), and Boomers prefer newer or modern builds (30 per cent).
Proximity to family is a key factor for older generations, with 27 per cent of Boomers and 33 per cent of the Silent Generation prioritising this aspect.
Younger generations have different priorities.
Gen Z values homes with more bedrooms (18 per cent) and shorter commute times (14 per cent).
Millennials desire freestanding homes (28 per cent) with backyards (14 per cent) and more bathrooms (17 per cent).
Gen X seeks freestanding homes (29 per cent) on quieter streets (23 per cent) with functional floor plans (14 per cent).
The research also reveals what buyers are willing to compromise on.
Character features (25 per cent), modern builds (18 per cent), and work-from-home spaces (16 per cent) are the top elements buyers would trade-off.
However, Australians are least likely to compromise on garages or off-street parking (6 per cent), functional floor plans (6 per cent), and shorter commutes (8 per cent).
Interestingly, only 8 per cent of respondents would sacrifice proximity to pubs and cafes, highlighting the importance of lifestyle amenities in property decisions.
Generational differences in trade-offs are also evident.
Only 1 per cent of Gen Z would give up a shorter commute, while 22 per cent would forgo character features.
Millennials are least likely to compromise on investment potential (4 per cent) and access to preferred school zones or childcare (10 per cent).
Gen X is most willing to sacrifice character features (25 per cent) but prioritises functional floor plans.
Boomers would forgo larger homes (31 per cent) or blocks (26 per cent) for lifestyle-suited features.
The Silent Generation refuses to compromise on quiet streets, garages, or proximity to pubs and cafes.
“Purchasing a home is one of the most personal and complex life decisions we can make,” Ms Stolz said.
“Whether it’s a spare room for the baby you’re dreaming of, a faster commute so you can achieve that elusive work-life balance, or a local pub with a great steak night, we all have evolving priorities that increasingly we’re open to compromising on to make these priorities a reality.”
