Migration and limited housing drive long-term growth
Bayleys’ latest report highlighted lifestyle property market recovery, driven by migration and remote work trends, with interest rates and government regulations influencing demand.
Lifestyle property market rebounds as housing supply tightens
The lifestyle property market is beginning to recover, as independent forecasters predict residential property prices will rise over the next two years.
Strong migration and a restricted housing supply are expected to fuel long-term price growth, influencing the lifestyle sector.
Rate cuts crucial for market outlook
Interest rates, which have started to decline with easing inflation, are still a key pressure for buyers.
“Interest rates will likely remain the primary influence on the lifestyle property market in the short term,” the Bayleys report suggested, emphasising their role in shaping buyer decisions in the near future.
Increased stock provides buyers more choice
Higher volumes of available properties have created a more competitive market, giving buyers more options.
To attract attention, “smart marketing campaigns remain critical,” as sellers aim to distinguish their properties in an increasingly crowded marketplace.
High-value lifestyle properties still in demand
Unique and high-spec lifestyle properties, particularly in coastal areas, remain popular.
Features such as architecturally designed homes, pools, and equestrian facilities are expected to drive demand for high-value properties over the next 12 months.
Remote work expands buyer reach
With improved connectivity and the growing trend of remote work, more buyers are considering lifestyle properties. The ability to work from home is broadening search areas, as distance from urban centers becomes less of a constraint for buyers.
Owners cautious amid regulatory changes
Lifestyle property owners remain attentive to government regulations and policy shifts.
Key concerns include potential changes in zoning and the availability of infrastructure to support developments on urban fringes, which could impact the market moving forward.
Read the full Bayleys report here.
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