How buyers’ priorities have changed

It’s no surprise that the various social distancing restrictions that have been dealing with over the past few months have got many of us thinking about the way we live. After all, there’s nothing quite like being stuck at home for days on end to sharpen our focus on how our home works and what we could do to make it more user-friendly.

In fact, some recent data from Domain has provided some interesting insights into which parts of our homes we have been paying the most attention to in our efforts to live with increased working from home time, and more time at home in general.

According to the analysts at Domain, demand for home offices, studios and granny flats has soared as isolating house hunters have discovered the value of separate areas within the home to work from. Relaxation space has also become a priority, with an increasing number of house hunters searching for key words like balconies, gardens, courtyards and retreats.

Given that Victorians have experienced the strictest social distancing measures, it was no surprise that our state recorded some of the biggest changes of any state. The biggest of these involved searches for properties with home offices. In April and May this year, these searches were up by 830 per cent on February and March!

Other increases in Victoria included:

  • Granny Flats, (up by over 280 per cent);
  • A retreat, (a 159 per cent increase);
  • A balcony, (up by 63 per cent); and
  • A studio (up by 53 per cent).

Figures like these provide some interesting insights for homeowners, particularly those who may be considering selling in the next few months. For example, do you have an area of your home that could be used as a home office or a studio? Is there an area that could suit conversion to a granny flat or retreat, even if it’s not currently used that way?

Possibilities like these could mean that your property appears in more buyer searches if it is marketed correctly, so don’t overlook this opportunity. Of course, if you would like a confidential discussion about the best way to market your property in the current climate, or even whether some slight changes to your existing home could broaden its appeal with buyers, don’t hesitate to call on our team at Barry Plant Cranbourne this week on 5990 9400.

Cheers,

Barry Plant Real Estate

Cranbourne & Frankston