Suncorp’s Home Index Report asked 1,600 Australians what home features and lifestyle factors are important to them when buying a new home.

The research found that Australians place more importance on the home’s pet-friendliness rather than its proximity to family (46 per cent) and friends (39 per cent).

Suncorp’s EGM, lending, Glenn Haslam said the findings indicate that pets are becoming more important members of the family.

“Australia has one of the highest rates of pet ownership in the world, so there is no question, pets are adored members of the modern Australian family,” Mr Haslam said.

Younger generations are more likely to value their pet’s environment, with 59 per cent of those aged 18 to 34 placing added importance on it when purchasing a new home.

“It can be difficult to find a home that ticks all of the boxes, so buyers need to make sacrifices and prioritise what’s most important to keep within budget – and this can sometimes mean living further away from friends and family,” Mr Haslam continued.

Ray White New Farm principal Matt Lancashire explained that dog and cat-friendly properties tend to have higher sale prices and more rental applications.

“One of the main questions we get asked by potential buyers is if it is a pet-friendly building. If a building is pet-friendly, there’s certainly a positive impact on price due to increased competition,” Mr Lancashire said.

About the author

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

About the author

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

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