A poll of around 1000 Australians, as part of a global survey by commercial real estate firm CBRE, found that a large contingent of Aussies prefer renting to home ownership.
“While the survey found that Australians still prefer owning a home, the split of home ownership to renting is 52% to 48%, a surprisingly high number of people preferring rentals,” reports the Property Tribune.
We know that Australia is far from a renters’ paradise with a lack of affordable rental properties driving up prices across our cities. So what is driving this growing preference for renting?
“One of the key conclusions is that quality of life is the top consideration for where and how people live, work and shop,” said Sameer Chopra, Pacific head of research for CBRE.
That means lifestyle choices are driving buying and renting decisions.
It’s also playing out in other post-pandemic trends, with the survey suggesting we’ll see a shift back towards cities after the COVID tree changes and sea changes. “Wellness factors” are also driving location decisions.
An increase in Build to Rent properties is one property trend tipped to take off as the great Australian dreams evolves to include tenants as well as homeowners.
Want to find your new Aussie dream? Check our listings for rent or view our current listings for sale.