The latest Home Truths survey, which gathered insights from over 1,700 Australians, reveals a significant shift in homebuyers' attitudes.
WA's Millennials (aged 27-42) and Gen Z (aged 18-26) are increasingly willing to sacrifice some of their property preferences to cope with the rising cost of living.
Compared to last year, there has been an 11% increase in buyers ready to compromise on features of their ideal home.
For instance, the importance of a safe location has significantly shifted for Gen Z, with only a third now considering it a priority, down from 47 percent previously.
In line with this trend, there's a growing acceptance of smaller properties, especially among Gen Z buyers, who are increasingly prioritising affordability over size.
This contrasts with the east coast, where buyers often prefer larger homes and choose to sacrifice luxury features like pools or decks.
This shift indicates a pragmatic approach to homeownership, where making smart sacrifices is key to entering the market without compromising long-term happiness.
Opting for a smaller home in a promising area can be a wise choice, as a good location often means better access to amenities and future growth potential.
Prioritising proximity to work, public transport, and schools can help balance the budget, while sacrificing less critical features like an extra bathroom or a large yard can make a significant difference.
Ready to make your dream home a reality? Contact Realmark’s local area experts today for personalised advice and guidance to navigate the market and find the perfect home for you.