Australians Embrace New Property Strategies in a Changing Market

The way Australians buy and sell property is evolving, with younger generations increasingly open to new approaches, including digital platforms, co-ownership, and apartment living. However, despite the rise of online tools, most Australians still see the value of working with real estate professionals, according to a new LJ Hooker study.

The findings reveal key shifts in how we navigate the property market, balancing affordability challenges with innovative solutions.

Key insights from the research include:

• Less than a quarter of Australians consider selling their home without a real estate agent, though nearly half (45%) of Gen Z would.
• Face-to-face meetings remain the preferred way to communicate with agents, despite advances in technology. However, digital communication is gaining traction among younger generations, with Gen Z (48%) and Gen Y (60%) preferring email communication.
• Co-ownership is gaining traction, with 27% of Australians open to buying a property with a friend or sibling—rising to 44% among Gen Z.
• 30% of homebuyers have parents open to providing them financial assistance, reflecting the challenges of saving for a deposit in the current market.

The Role of Real Estate Professionals Remains Strong

While platforms like Facebook Marketplace and online property portals have made private property sales more accessible, the majority of Australians still prefer working with an agent. The research shows that only 21% of Australians have considered selling privately, with younger generations more open to the idea.

LJ Hooker Group Head of Research, Mathew Tiller, says many sellers soon realise the complexity of handling a property sale without expert guidance.

“At the end of the day, people want to achieve the highest price possible for their home and this requires more than just uploading photos or videos online and hoping for the best,” he said.

“With fluctuating market conditions, competing offers, and strict regulations, working with a professional real estate agent removes stress and ensures a better outcome.”

Local expertise (62%), commission rates (51%), and customer service (47%) are the most important factors for Australians when choosing an agent.

Young Buyers Embrace Co-Ownership and Apartment Living

As standalone homes become less attainable in major cities, younger generations are rethinking their path to homeownership.

• 44% of Gen Z and 30% of Gen Y would consider co-owning a home with a friend or sibling, compared to just 18% of Baby Boomers.
• 45% of Australians are open to apartment living, with younger buyers leading this trend (61% of Gen Z versus 45% of Gen X).

“Australians still equate property ownership with financial security, but rising affordability challenges means looking for alternative pathways such as co-ownership or apartment living,” Mr Tiller said.

He stressed the importance of due diligence: “If buying a property with a friend or family member, seek legal advice and have an exit plan in case one party needs to sell early.”

Parents Continue to Play a Key Role in Homeownership

Saving for a home deposit remains a major hurdle for many young buyers. While Government assistance schemes have helped, more young people are relying on family support to bridge the gap.

• Parental support is even more common among younger generations, as affordability challenges persist.
• 82% of parents are open to helping their children enter the property market.

“Parents want their children to have the same financial security they have enjoyed through owning property,” Mr Tiller said.

“There are many ways they can go about this, from giving them a cash gift, acting as a co-guarantor, or even letting them stay at the family home rent-free until they have saved a deposit.”

This survey was commissioned by LJ Hooker conducted by independent Research firm Edentify in December 2024, who surveys 1,000 participants across Australia.