High crime rates are the major turn off for Australians when it comes to making a property purchase according to the results of a new survey.
Carried out by Finder.com.au, the survey of more than 2,000 Australians found that 75% of people would not by a home in an area that had higher than average crime rate.
Being close to noisy pub would also stop 68% of people from buying a home in a particular area, while 64% said they would not buy in an industrial suburb.
In comparison, only 36% of Australians would be put off buying in a neighbourhood where public housing is present, while both being within two kilometres of brothel or being in an area with an above average unemployment rate would only deter 33% of people.
Smaller things that would deter people from buying a home included if it was a deceased estate (12%), if it was located within two kilometres of a fast food chain (7%), if the suburb lacked “trendiness” (7%) and if the street number was 13 (5%).
While some of those reasons may be more legitimate deterrents than others, Bessie Hassan, money expert at finder.com.au, warned people not to rush into any decisions when it comes to something as major as buying a property.
“There’s a difference between true deal breakers and factors that house hunters worry unnecessarily about. Don’t be too quick to judge as your preconceived ideas could see you miss out on a hidden gem,” Hassan said.
“Interestingly, the third biggest turn-off was a home in an industrial area. But keep in mind that gentrification can positively impact lifestyle and property values as the area goes through a process of urban renewal,” she said.
“The areas buyers are looking to purchase in will not be the same area in 10 years from now, it can evolve dramatically over time.”
For those who may be trying to sell in area that is affected by high rates of crime or other major buyer turnoffs, Hassan said there are steps people can take to try an improve their situation.
“For example, if your home is in a high crime area and you don’t have an alarm, get buyers on side by installing a security system. If your home is blighted by noise pollution, opt for double glazed windows,” she said.
“Be open about the pitfalls, but be sure to emphasise the area’s or home’s unique perks.”
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