February is one of the busiest times for new couples to search for rental properties via the internet, according to one of Australia’s biggest listing portals.
New research released from realestate.com.au shows there is a spike of activity in rental searches in February.
realestate.com.au general manager of sales and operations Arthur Charlaftis said that a change of life stage was one of the biggest triggers for people looking to change rental properties.
“The decision to move in with a partner, or away from a housemate, often prompts people to re-enter the property market,” he said.
According to Mr Charlaftis, eight out 10 people use realestate.com.au to help find a rental property.
The data also shows that Australians are more open to moving in with their significant other within just 12 months of dating.
Old traditions appear to have fallen by the wayside, with only one in 10 people waiting until they are married to move in together.
While we may be quick to make the move in together, the realestate.com.au survey also indicates that two thirds (66 per cent) of Australians would rather set up an entirely new home with their partner than try to merge into one property or the other.
Meanwhile, mortgage brokering firm Mortgage Choice said shared possession of a property is a way many couples can get into the market sooner.
According to Mortgage Choice spokesperson Jessica Darnbrough, purchasing a property with someone else, such as a partner, spouse, family member or friend, is an increasingly popular and viable way for many Australians to enter the property market.
"The latest Mortgage Choice Future First Home Buyer survey found 67 per cent of Australians plan to buy with a partner, spouse, family member or friend - significantly higher than the 30 per cent who said they would purchase a property on their own," Ms Darnbrough said.
"Purchasing with someone else often makes property ownership more affordable. It is a strategy that enables potential buyers to pool their money for a deposit and utilise their borrowing power to get a loan. Co-owners can split the cost of the property and all the associated expenses so that repayments are noticeably less than if you were buying solo," she said.