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New industry research has uncovered how relocating houses inspires Australians to rethink their finances, embrace new habits, and transform their houses inside and out.
The Movers Research, conducted by Starburst Insights on behalf of REA Group, surveyed over 1,600 Australians to reveal that two in three movers reassess their lifestyle, adopt new routines, and review their finances when moving homes.
The findings also showed that one in five people reported starting a new hobby, obtaining a new credit card, or purchasing a new car when relocating, with over half of respondents using the opportunity to renovate.
REA Group national sales director (media), Rob Hudson, said the research “underscores the dynamic nature of the moving market in Australia and highlights how mover behaviour has shifted in recent years”.
While relocation involves a significant physical change, the research showed that the research process is becoming increasingly digital, with two-thirds of movers starting their home ownership research online before moving in.
This digital reliance extended beyond the moving process, with nearly one in three movers turning to realestate.com.au for styling and inspiration, while 43 per cent of respondents revisited listings, and 43 per cent of respondents explored the property’s local neighbourhood on the platform.
Finances also emerged as a significant focus in the research, with two in three respondents stating that relocating prompted them to reassess their finances.
In the categories of internet, electricity and home insurance, around one-in-third of movers reported that they switch providers before or during the move, with respondents saying “price and ease of set up” are primary drivers.
Moreover, two-thirds of respondents stated that moving houses is the “prime time to change the style of their home” and said they are willing to “stretch their budget” to transform their home.
Weighing in on the research, Hudson commented that the report has provided REA Group with a “deep understanding” of what motivates movers.
“Twelve per cent of Australian households relocate annually, and while moving houses can be a highly emotional and stressful time, it’s also a window for transition, sparking change in many aspects of life,” Hudson said.
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