A new survey of 2000 home buyers showed that high crime rate is the biggest reason why home buyers decide to pass up on an area. Similarly, homes located in predominantly industrial areas are also unpopular among these buyers.
“Crime rates should definitely be a consideration, but I truly don’t think enough buyers are doing their due diligence in that respect, and it could be as simple as a quick Google search,” said Starr Partners chief executive Doug Driscoll.
In Victoria, it matters whether an area is fashionable or not. One in 10 respondents—or double the national average—are put off by areas that are not trendy. According to Wakelin Property Advisory associate director Jarrod McCabe, it all comes down to lifestyle preferences.
“Melbourne’s climate and distance from quality beaches similar to those other Australian cities enjoy see the focus more on attaining easy access to a trendy café lifestyle and laneway culture,” he said. “An astute buyer may not be a follower of trends because they are a fashion victim, but simply because they want to buy where they feel confident they’ll be able to sell well in the future.”
Interestingly, the Finder.com.au survey also revealed that two-thirds of Australian house hunters put off buying a home when it is close to a rowdy pub, compared to only a third who said that they would be deterred from buying a house when there is a nearby brothel in the area.
But those who are selling homes with these ‘undesirable’ features should not give up hope for a good sale result, said Finder spokeswoman Bessie Hassan.
“Put yourself in the buyers’ shoes and put some measures in place to ensure you’re addressing potential questions or concerns regarding the area’s crime and noise rates,” she said.
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