The majority of Australians would rather have more space in their home than live near a city.
That's according to a Compare the Market survey of more than 1,000 Australians. 41.9% would not downsize their homes to live closer to a city, and another 29.4% have no desire to live near a city. Only 18.8% are willing to downsize and 9.9% already live in the city.
In comparison, Americans and Canadians reported a higher percentage of downsizers at 22.7% and 25.5% respectively. More people in Canada and the United States already live in a city.
Compare the Market General Manager, Stephen Zeller said it is imperative for those willing to downsize to consider which amenities they're willing to compromise on.
“Purchasing a home, no matter the location or size, can be a daunting experience, so it’s good to keep in mind the tools you have at your disposal,” he said.
“Knowing which home amenities you definitely want and which you’re willing to compromise on can help you narrow down which properties are right for you.
“In addition, using comparison services can help you find a competitive interest rate on offer.”
Of those willing to downsize, 57.9% said they would give up pools and 42.1% said they would give up a garden shed to live closer to a city. Americans and Canadians share the same sentiment.
Of the amenities Australians weren’t willing to compromise, laundry ranked highest, with 50% reporting their unwillingness to trade it for city living. This is followed by 38.9% not willing to give up their parking space.
