PHOTO: Property-obsessed 

The housing downturn seems to have left Australian home seekers unfazed after all — in fact, it has even made them more obsessed about property than ever before, a study by HSBC found.

According to the study, Australians are amongst the world’s most fixated about the property market. Australian home seekers spend 2.5 hours a week researching about property, more than twice the time they spend at the gym or talking to their parents.

HSBC head of mortgages Alice Del Vecchio said the softening property prices and the low interest-rate environment in Australia spur hope for Aussies who aspire to enter the property market.

“Buying a property should be a positive experience, and with some careful planning, it can be an exciting one too,” she said.

Vecchio said many Australians are postponing other life events like marriage and having children to prioritise finding the most affordable property.

“Buying a property is often the most significant purchase Aussies make, but it seems that some home buyers are taking their passion for the perfect home to the extreme,” she said.

Where are world’s most property-obsessed home seekers found?

Location

Time spent viewing properties weekly (hours)

UAE6.60
USA4.95
Taiwan4.54
Mexico3.56
Singapore3.29
UK2.65
Australia2.51
Canada2.08
France1.74

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