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Australians have been motivated by lifestyle when buying a home, with factors such as a lively community and walkability driving purchasing trends among younger generations, according to John McGrath.
Buyer priorities amongst Gen Z and Millennials have shifted when it comes to identifying their ideal home, largely motivated by lifestyle benefits and environmental sustainability, according to the latest McGrath report.
McGrath Estate Agents CEO John McGrath stated that Gen Z and Millennial buyers have placed greater value on living in a thriving community.
“This desired lifestyle can be found at metropolitan centres offering a quick commute to the office, a bustling cafe culture, and night-time entertainment,” McGrath said.
“What’s more, these younger generations tend to be environmentally focused, so are more likely to prefer walkable neighbourhoods with easy access to public transport.”
Data from the 2024 Muval Index found that 41 per cent of Australians would consider moving in pursuit of a better lifestyle, the most common reason for relocation.
Muval chief executive officer James Morrell said that the data showed that buyers had adjusted their wants and needs when purchasing a property.
“We are increasingly prioritising lifestyle over life stress this year, and the next,” Morrell said.
McGrath said that governments have been moving away from approving low-density precincts predominantly composed of detached homes to cater to the growing demand for tight-knit communities.
“Instead, they are encouraging the creation of precincts with more compact development, serviced by public transport, and clustered around vibrant and interesting retail centres,” McGrath said.
The report found that investment in community infrastructure was key to the success of “walkable” or “20-minute” suburbs, with the government providing funding to many precincts through various programs.
The appetite for a bustling community atmosphere has surged in recent years, with 74 per cent of residents within a short distance of Newtown’s Enmore Road showing their support for the government changes that turned the suburb into a Special Entertainment Precinct.
Regional appeal
McGrath said that while walkable suburbs were typically located in metropolitan centres, regional towns can offer a similar access to amenities and a community-focused lifestyle.
“While capital cities continue to house the majority of Australia’s population, regional centres have enjoyed increased demand, especially from those who can easily work from home,” he said.
The report said that the acceptance of remote work following the pandemic prompted many Australians to consider tree and sea changes to regional areas.
A survey from the Regional Australia Institute found that two in five would consider a move to a regional town in 2025, an increase from just one in five in 2023.
McGrath said the increase in interest wasn’t just about seeking a more relaxed pace of life, but about finding regional centres that still offered the benefits of city living.
“You get all the perks – arts, sports, education, healthcare, shopping – wrapped up in a more relaxed and typically more affordable package,” McGrath said.
According to McGrath, towns such as Gisbourne in Victoria, Toowoomba in Queensland, and Orange in NSW demonstrate that buyers don’t have to sacrifice urban amenities to enjoy regional living.
Who let the dogs out?
The report found that, with almost 70 per cent of Australian households having pets, how properties cater to the nation's furry friends can add significant value to a dwelling.
A survey by Houzz into renovators found that 48 per cent prioritise pets in their decision-making process when upgrading their homes.
McGrath said there was evidence that pet-friendly features such as secure fencing, grassed areas, relaxed strata rules and proximity to parks can increase a property's value by 10 per cent.
To cater to this growing sentiment, new developments are more often showcasing their range of pet-friendly features.
“As for landlords, there’s plenty of research that shows tenants will pay extra for a place where their pets are welcome – in some cities to the tune of a 30 per cent premium,” McGrath concluded.
ABOUT THE AUTHOR
Mathew Williams
Born in the rural town of Griffith NSW, Mathew Williams is a graduate journalist who has always had a passion for storytelling. Having graduated from the University of Canberra with a Bachelor of Sports Media in 2023, Mathew recently made the move to Sydney from Canberra to pursue a career in journalism and has joined the Momentum Media team, writing for their real estate brands. Outside of journalism, Mathew is an avid fan of all things sports and regularly attends sporting events across Sydney. Get in touch at
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