‘Home is where the heart is’ has never been more prevalent than now – post-pandemic. Sydney siders prioritise their home lives over everything else and according to experts, it doesn’t look like anything is changing.
Having spent the last year in and out of lockdown, unable to travel and working from home, Sydney’s housing market has made a complete flip from city living to quality living, and David Walker from Ray White Upper North Shore sees the trend growing exponentially.
“During the lockdown, especially the North Shore, there was a huge change in the desire of people wanting to get houses with space,” Mr Walker told Sydney Observer. “We saw, compared to other markets, Upper North Shore had so much interest because people were not needing to be in the city as much and working from home, so they were looking for houses that were much larger, with a backyard – looking for a lifestyle.”
Before the pandemic people gravitated towards the city and restaurants and gave up on space and backyards to have more convenience in both the rental and buyer’s market. There has been a big move away from smaller spaces and convenience to larger spaces and privacy.
“People were working a lot more from home and looking for an extra room, a ‘zoom room’ as they call them,” says Walker.
“There was a lot more demand and a lot less on the market, especially in our area (Upper North Shore), a lot of the people weren’t wanting to sell as they were in lockdown, so property prices pushed up.”
As interest rates are at an all-time low and people have built up equity in their houses, upsizing has been very popular. Those wanting to get out of the cities are searching for bigger houses in the Upper North Shore, and anyone who is willing to sell is moving out of Sydney. Mr Walker thinks the people selling their houses have seen a shift in their work life.
“People selling don’t really need to be in Sydney anymore because their businesses have moved more online or have moved away from needing to be in a physical place,” Walker says.
Now Sydney siders have had a taste of a different way of life, there is no turning back.
“Even now we are out of lockdown that shift is still there. We have a bit more on the market but I think a lot of people during the pandemic have put more of a value on lifestyle and home. There is a big shift from location and more on the actual house and size of house and backyard,” Walker says.
People are more focussed on the lifestyle and home living, with tennis courts becoming popular – anything that gives you a chance to enjoy your time at home.
“Swimming pools were becoming unpopular in the last few years because of the maintenance, but now it seems everyone wants one.”
Main Image Source: Ray White Upper North Shore