RESULTS Survey #4 | Renters have their say on WFH

2 October 2023

2318

Does WFH affect what renters look for in a home?

Our ability to “Work from Home” (WFH) depends on the industry in which we work, and of course, the type of work we do. The last variable is whether we actually want to do it. Some people jump at the chance, while others prefer the social hustle of being in the office. For most, the happy middle ground seems to be a bit of each.

We can see from the results that around half of renters (51%) have the option to work from home. Interestingly, it is our youngest and oldest renters who are least likely to have this option. This may highlight that they over-index in customer-facing roles where WFH is less likely to be practical.

WFH has changed the way 66% of renters look for a home

The second part of the question was trying to see if the option to WFH would have an impact on the type of home or area you wanted to live in.

We can see from the infographic that 66% of renters indicate that WFH is going to have an impact on where they want to live.

Of those looking for a change, the largest group (25%) are looking for somewhere a little larger, with space to set up a home office.

An even 20% of renters are indicating there are savings to be made from WFH (tolls, parking, public transport), and they are going to use these savings to find somewhere a little cheaper to rent.

Coming in at 16% of those renters that can WFH are lifestyle seekers. If I don’t need to head into the office every day, then maybe now is the chance to move nearer to the beach, the bush, or closer to the things that are interesting for me.

Comments attributable to Rent.com.au CEO Greg Bader

“Not surprisingly, the ability of renters to WFH aligns with the general population, but it is always interesting to hear the sentiment in our community. One of the inherent advantages of renting is the flexibility to change location as your needs/desires change. This is reflected with two-thirds of our renters indicating that WFH will drive a change.

“Of course, that assumes a normal market where renters have a choice. We are not in a normal market.

“While there has been some slight easing in some locations (and others are getting worse), across the country, we are seeing stock availability at all-time lows and rent costs at all-time highs. Federal and State initiatives are being discussed. The challenge is that we need stock now and not in 3 years.

Rent.com.au

Rent.com.au | 1300 736 810 | [email protected]

Rent.com.au is Australia's largest company dedicated to renters and is owned and operated by ASX-listed Rent.com.au Limited (RNT:ASX). For over 15 years, Rent.com.au has exclusively focused on making renters' lives easier by making it easier to find a property, secure it, move in and pay rent.