Despite claims of the growing popularity of eco-friendly housing, a large number of first homebuyers are not familiar with the concept, a new report revealed.
The survey conducted by Connection Research found that nearly one third of new homebuyers have never heard of "green subdivisions" and another third have heard of the term but have no idea what it means. Fewer than one in five regard them as important factor in choosing where they might live the report found.
"Everybody would like a big house with all the bells and whistles, but the survey tells us just what is most important and to which group of people," said Graeme Philipson, report's co-author and research director with Connection Research. "For example, the wealthier households are much more likely to want home automation - but only a little more likely to want water tanks," he said.
He said the finding about the lack of awareness of green subdivisions reveals one of the key contradictions in Australian's home buying patterns.
"People want to be green" he said. "They express a strong abstract desire to live sustainable lives. But when it comes to practicalities, and paying for them, these desires are not always translated into action."
The report also found that most people want to stay in familiar surroundings with only a minority seeking to change from city to country and vice versa. "The only exception is inland where 80-90% of people want to move towards the coast or a town or city suburbs," it said.
Can you afford to buy in this suburb? Find out how much you can borrow
Top Suburbs :
Get help financing your investment
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local expert Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus, our mortgage broking service is at no cost to you.
We value your privacy and treat all your information seriously - you can check out