Why 1.1m Aussies are planning to sell their homes soon

PHOTO: Bondi Beach, Sydney, Australia. FILE

New data shows that 1.1 million Australians have got one thing on their mind – and the economic impact of this will affect us all.

As the normal hustle and bustle of life ground to a halt during the lockdowns earlier in the year, many Australians found themselves reassessing their priorities in life. During the weeks or even months stuck inside, people began dreaming of what might be possible.

For many, it was the realisation that living close to the CBD was perhaps no longer necessary.

With things finally beginning to return to normal and border closures slowly being lifted, many Aussies are looking forward to putting the changes they dreamt of into action.

Amid a year of pandemic and economic driven uncertainty, some homeowners quite understandably held off on listing their properties, hoping that the New Year may provide more ideal circumstances for a sale.

According to data from research firm Digital Finance Analytics (DFA), these two forces appear to be combining to create a wave of homeowners looking to change their living arrangements in the next six months.

DFA’s survey data concluded that over 1.1 million Australians intend to sell their property in the next six months. In terms of the demographics, 298,093 international owners (foreign citizens and Australians living overseas), 309,032 investors, 115,893 up traders, 350,093 down traders and 28,003 first home buyers intend to sell in the coming six months.

The next six months predicts a huge surge in people selling their homes. Source: DFA.

The next six months predicts a huge surge in people selling their homes. Source: DFA. Source: Supplied