Invest
‘Great Australian dream’ of owning a home lives on amid COVID
Most Australian investors and home buyers were largely undeterred by the events of 2020, remaining eager to push through with their investment plans, a new survey has found.
‘Great Australian dream’ of owning a home lives on amid COVID
Most Australian investors and home buyers were largely undeterred by the events of 2020, remaining eager to push through with their investment plans, a new survey has found.

Despite having to face the impacts of COVID-19, a majority of Australians remain in pursuit of their dream to own a home, according to the 2021 Buyer Barometer Survey by the Real Estate Buyers Agents Association of Australia (REBAA) and Property Talk Australia (PTA).
Of the 745 home buyers and investors from across the country who participated in the survey, only 15 per cent said that they put their search on hold in response to COVID-19, while 9 per cent changed their buying criteria.
Meanwhile, 10 per cent inspected a property and a significant 21 per cent went ahead with the purchase despite the pandemic.
“2020 was a tumultuous year for the Australian property market in the midst of a global pandemic, record-low interest rates, massive government incentives and softer lending conditions,” REBAA president Cate Bakos said.

“[The results proved that] that the pursuit of the ‘great Australian dream’ can withstand the sharpest of downturns.”
Of those who planned to invest in 2021, 20 per cent said they will fund their next purchase with cash in hand.
Meanwhile, 45 per cent plan to obtain a loan via a broker, while 29 per cent were intent on financing their next loan directly through a bank.
Buying trends
Houses are expected to remain the number one choice of investment in the real estate market in 2021, the survey revealed.
Of those looking to purchase in the next 12 months, 49 per cent are interested in purchasing a house, with the remainder distributed across townhouses, units, holiday homes and apartments.
Most of these purchasers categorise themselves as owner-occupiers (40 per cent), followed by investors (37 per cent).
According to Ms Bakos, in the midst of a difficult year, combined with an overall stock shortage, it’s evident that buyer frustration is high.
“We have seen surprising house price growth despite COVID-19, and we expect this to continue throughout this year as pent-up demand plays out,” Mr Bakos said.
Moving forward, interstate and regional locations are expected to stay in demand, with 23 per cent of buyers considering an interstate location for their next purchase.
While more buyers still want to stay within an hour’s drive of their current home (26 per cent), a significant number have also become open to considering a purchase more than two hours from their current address (16 per cent).
According to the survey, the record-low interest rate is contributing to the regional appeal.
But in addition to an increase in interstate investments, buyers are also looking into renovation as part of their investment strategy in 2021, as they look to manufacture capital growth in the current market.
The survey found that almost a quarter of all respondents, or 24 per cent, are looking for a property with renovation potential.
Others were interested in subdivision potential, along with granny flats and properties with separate tenancies.
Overall, the survey results proved that Australians have remained resilient amid a once in a century event, according to PTA spokesperson Chris Dimitropoulos.
“The key takeaway for us real estate enthusiasts is that Australia’s love affair with property remains steadfast in the face of a pandemic and the worst economic conditions in decades,” he concluded.
About the author

About the author


Property
North platform adds household reporting feature to boost adviser efficiency
AMP's North platform has launched consolidated household reporting across multiple client accounts, helping financial advisers streamline their client review processes. Read more

Property
What Adds The Most Value To Properties?
Wondering how to up the value of your property? Properties are worth a lot of money in general, but there’s always a way to maximise value. The good news is that most of the things you can do to ...Read more

Property
Centuria reports strong growth in alternative real estate sectors for FY24
Centuria Capital Group has reported significant growth in alternative real estate sectors for the 2024 financial year, driving stable performance and increased guidance for FY25. Read more

Property
How to leverage equity in your home for investment or renovation
Home equity, the value of your property minus any debts owed, is a powerful financial resource many homeowners in Australia can utilize to further their financial goals. Whether you're looking to ...Read more

Property
Exploring REITs: Real estate investment without buying property
Real Estate Investment Trusts (REITs) offer a compelling investment alternative for those interested in the real estate market but may not want to endure the complexities and capital requirements of ...Read more

Property
Retirement communities: a pivotal element in meeting Australia's housing targets
The Retirement Living Council (RLC) has recommended that retirement communities should be considered a vital part in the Australian Government's initiative to fulfill the Housing Australia Future Fund ...Read more

Property
Australians adjust financial strategies amid changing property market dynamics
The 2023 calendar year saw Australian borrowers acquiring a total of $300.9 billion in new loans for property purchases, marking a 12.7% decrease from the previous year. Read more

Property
Split home loans unlocking doors for Aussie buyers
Australians are teaming up to dive into the real estate market and seize the advantages of home ownership, with the trend of split home loans surging as family and friends unite to buy properties ...Read more

Property
North platform adds household reporting feature to boost adviser efficiency
AMP's North platform has launched consolidated household reporting across multiple client accounts, helping financial advisers streamline their client review processes. Read more

Property
What Adds The Most Value To Properties?
Wondering how to up the value of your property? Properties are worth a lot of money in general, but there’s always a way to maximise value. The good news is that most of the things you can do to ...Read more

Property
Centuria reports strong growth in alternative real estate sectors for FY24
Centuria Capital Group has reported significant growth in alternative real estate sectors for the 2024 financial year, driving stable performance and increased guidance for FY25. Read more

Property
How to leverage equity in your home for investment or renovation
Home equity, the value of your property minus any debts owed, is a powerful financial resource many homeowners in Australia can utilize to further their financial goals. Whether you're looking to ...Read more

Property
Exploring REITs: Real estate investment without buying property
Real Estate Investment Trusts (REITs) offer a compelling investment alternative for those interested in the real estate market but may not want to endure the complexities and capital requirements of ...Read more

Property
Retirement communities: a pivotal element in meeting Australia's housing targets
The Retirement Living Council (RLC) has recommended that retirement communities should be considered a vital part in the Australian Government's initiative to fulfill the Housing Australia Future Fund ...Read more

Property
Australians adjust financial strategies amid changing property market dynamics
The 2023 calendar year saw Australian borrowers acquiring a total of $300.9 billion in new loans for property purchases, marking a 12.7% decrease from the previous year. Read more

Property
Split home loans unlocking doors for Aussie buyers
Australians are teaming up to dive into the real estate market and seize the advantages of home ownership, with the trend of split home loans surging as family and friends unite to buy properties ...Read more