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.
RELATED ARTICLES
About the author
About the author
Property
First‑home buyers now anchor Australia’s mortgage growth — but the risk maths is changing
Great Southern Bank’s revelation that nearly one in three of its new mortgages went to first‑home buyers is not an outlier. It is the leading edge of a broader market realignment powered by government ...Read more
Property
Home guarantee scheme shake-up challenges Australia’s housing market players
From 1 October 2025, the expanded Home Guarantee Scheme (HGS) materially widens what first-home buyers can purchase and where. By sharply lifting price caps and relaxing eligibility settings, the ...Read more
Property
GSB’s first‑home buyer play: turning policy tailwinds into market share
Great Southern Bank’s latest results show that nearly one in three of its new mortgages now go to first‑home buyers—evidence of a fast‑moving market reshaped by government guarantees, easing rates and ...Read more
Property
Why investors are fleeing and renters are scrambling in Australia's housing maze
Australia’s rental market is tightening even as individual landlords sell down. New data points to a multi‑year investor retreat tied to higher holding costs and regulatory uncertainty, while prices ...Read more
Property
Australia's 5% deposit guarantee: Unlocking gains while balancing risks in the market share race
Can a bigger government guarantee fix housing access without fuelling prices? Australia is about to find out. The Albanese government’s expanded 5% deposit pathway aims to help 70,000 buyers, remove ...Read more
Property
Australia's bold move the 5% deposit scheme shaking up the housing market
Can a government guarantee replace lenders mortgage insurance without inflating prices or risk? Canberra’s accelerated 5% deposit scheme is a bold demand-side nudge in a supply‑constrained marketRead more
Property
When rates drop but stress sticks: exploring Australia's mortgage arrears dilemma
Headline numbers suggest arrears ease as rates come down. The reality in Australia is messier: broad measures dipped into mid‑2025, yet severe delinquencies and non‑bank portfolios remain under ...Read more
Property
Property advice goes rogue as risks and opportunities knock on every door
A warning from the Property Investors Council of Australia has put a spotlight on the surge of unlicensed financial advice around property strategies. This is no niche compliance issue—it’s a ...Read more
Property
First‑home buyers now anchor Australia’s mortgage growth — but the risk maths is changing
Great Southern Bank’s revelation that nearly one in three of its new mortgages went to first‑home buyers is not an outlier. It is the leading edge of a broader market realignment powered by government ...Read more
Property
Home guarantee scheme shake-up challenges Australia’s housing market players
From 1 October 2025, the expanded Home Guarantee Scheme (HGS) materially widens what first-home buyers can purchase and where. By sharply lifting price caps and relaxing eligibility settings, the ...Read more
Property
GSB’s first‑home buyer play: turning policy tailwinds into market share
Great Southern Bank’s latest results show that nearly one in three of its new mortgages now go to first‑home buyers—evidence of a fast‑moving market reshaped by government guarantees, easing rates and ...Read more
Property
Why investors are fleeing and renters are scrambling in Australia's housing maze
Australia’s rental market is tightening even as individual landlords sell down. New data points to a multi‑year investor retreat tied to higher holding costs and regulatory uncertainty, while prices ...Read more
Property
Australia's 5% deposit guarantee: Unlocking gains while balancing risks in the market share race
Can a bigger government guarantee fix housing access without fuelling prices? Australia is about to find out. The Albanese government’s expanded 5% deposit pathway aims to help 70,000 buyers, remove ...Read more
Property
Australia's bold move the 5% deposit scheme shaking up the housing market
Can a government guarantee replace lenders mortgage insurance without inflating prices or risk? Canberra’s accelerated 5% deposit scheme is a bold demand-side nudge in a supply‑constrained marketRead more
Property
When rates drop but stress sticks: exploring Australia's mortgage arrears dilemma
Headline numbers suggest arrears ease as rates come down. The reality in Australia is messier: broad measures dipped into mid‑2025, yet severe delinquencies and non‑bank portfolios remain under ...Read more
Property
Property advice goes rogue as risks and opportunities knock on every door
A warning from the Property Investors Council of Australia has put a spotlight on the surge of unlicensed financial advice around property strategies. This is no niche compliance issue—it’s a ...Read more
