Home buyers are moving to improve their WFH lifestyle, says NAB

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According to a recent survey of 2,000 Australians done by NAB, 42% of recent home buyers moved to improve their new working from home lifestyles. 

NAB executive, home ownership, Andy Kerr says that COVID-19 changed which features are more important for the Aussie home buyer. 

NAB found that many Australians valued the need for having a study or designated work area in their homes.

​​“The pandemic has impacted the lives of millions of Australians, particularly with how and where they want to live. What we have seen as a result is flexible working providing opportunities for people to live wherever they like and still work from home,” he says.

“Without the daily commute, people are looking at the suburbs that haven’t been available in the past as a viable option to actually own a piece of land and build a house.”

With the rise of hybrid working, there has also been a rising number of first time home buyers purchasing homes in outer suburbs.

“Australians have embraced flexible working during the past 18 months of the pandemic where you don’t need to be in a city office five days a week,” says Kerr.

Other reasons for moving home

Aside from improving their lifestyles, what are people looking for in a house in the middle of a pandemic?

Perhaps unsurprisingly, many people moved home for the wellbeing of their family (31%) or for employment (29%). 

NAB also found that Australians moved to avoid COVID restrictions (15%) and to avoid more lockdowns (15%).

Looking to move to a new home to accommodate your working from home lifestyle? Check out some of the great rates available to home buyers in the table below, or head over to our dedicated home loan comparison table to view more offers.

Home loan comparisons on Mozo - last updated 23 January 2022

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* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

** Initial monthly repayment figures are estimates only, based on the advertised rate, loan amount and term entered. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

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