Realestate.com has recently revealed the keyword search data that shows spikes in what Canberrans really want when searching for properties.
Keyword searches show that following the pandemic, home buyers are increasingly leaning towards larger properties equipped with more amenities. This trend reflects the demand for homes that can cater to remote work, home-schooling, and recreational needs, with studios, sheds and garages having the largest growth from ACT buyers.
Unit buyers had a large focus on accessibility with single level units and lifts soaring in searches as well as a focus on views.
Top 3 buy keywords with the largest year-on-year growth:
The top 10 keyword searches reveal what ACT buyers are seeking in their dream homes:
Prioritising Pools and Parking
Across Australia, swimming pools ranked number 1 in search terms. However, in the ACT, garages take the lead, showing that the practicality and utility of having secure parking is essential for the mobility and convenience of Canberran’s.
Affordable Upgrades Make a Difference
Beyond the larger, high-ticket features like pools and garages, the data shows the importance of affordable internal upgrades. Buyers are actively searching for homes with features like air conditioning, built-in wardrobes, and dishwashers. These relatively affordable additions can significantly enhance the overall appeal and functionality of a property.
Ensuites: A Non-Negotiable Feature
Ensuite bathrooms also emerge as a non-negotiable feature for many buyers. This private bathroom attached to the master bedroom adds a touch of luxury and convenience that buyers for both houses and units are seeking.
Accessibility and Sustainability
Buyers in the ACT are increasingly seeking properties that prioritise accessibility and sustainability.
Sustainability is a significant focus for ACT buyers, as reflected in the increased searches for properties with solar panels. This environmentally-conscious choice aligns with the broader trend towards greener, cost effective and more sustainable living in Canberra.
Accessibility is another key consideration, with an increasing number of searches for single-level houses, driven by Canberra’s aging population seeking homes and units that meet their future accessibility needs. The demand for elevators in units has more than doubled compared to the previous year.
Luxury Features are on the Rise
Buyers in the ACT are showing a growing interest in features typically linked to upscale properties. Searches for top-floor units, penthouses and views have surged by 24%, signalling an increasing appetite for luxury and prestige.
The data from Realestate.com offers fascinating insights into the ever-evolving preferences of property buyers in the ACT. As the real estate landscape continues to adapt, these insights serve as a valuable guide for both buyers and sellers in the dynamic Canberra property market.
Refinancing to make buyer friendly improvements
The features ACT buyers want make a house a home, but they do require initial upfront investment. One option to finance your buyer-friendly upgrades is to unlock the equity in your home through refinancing.
Refinancing is the process of taking out a new loan to replace an existing loan. This new loan typically has new terms and additional benefits, such as lower interest rates or a more convenient repayment plan. To learn more about refinancing check out our previous blog post here!
Are you looking to buy?
Come have a chat to one of our experienced mortgage brokers at Dominion Finance to learn how we can help you find your dream home!
Call us on 02 6162 2740 or email us at email@example.com to make an appointment today.