Aussies more property geeks than fitness freaks: HSBC study

A new study has found Aussies spend twice as much time researching property than they do at the gym. But we’re not the most obsessed nation, according to HSBC.

A new study reveals Aussies spend twice as much time looking at property than at the gym.

THE housing market might be cooling, but it seems Australia’s obsession with property is hotter than ever.

New research from HSBC reveals Aussies spend twice as much time looking at buying property than they do at the gym — even if they are not in the market for a new home.

The global study found we clock up 2.5 hours a week researching the property market, compared to the 1.08 hours we spend at the gym or talking to our parents (0.88 hours).

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A new survey has found Aussies spend twice as much time researching property as they do at the gym.

Extreme house hunters spend more than seven hours every week window shopping for homes, reading property magazines and trawling online listings.

The survey also found 23 per cent of Aussies check their home’s value every three months.

But Aussies are far from the most obsessed nation when it comes to property.

The UAE and USA take that crown, spending an average of 6.6 and 4.95 hours, respectively, on property each week.

A new study has found extreme house hunters spend more than 7 hours a week looking at property. Image: AAP/Lukas Coch.

Difficult neighbours is our biggest deal breaker (46 per cent) when it comes to a property purchase — something Aussies have in common with French and British buyers.

Rumours of a property being haunted are enough to put off 21 per cent of Australian buyers.

HSBC Australia head of mortgages Alice Del Vecchio said the study showed softening property prices and low interest rates were encouraging factors for people looking to get in to the local housing market.

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HSBC has undertaken a global survey to find out the most property obsessed countries in the world. Photo: AFP/Isaac Lawrence.

“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,” Ms Del Vecchio said.

“An industry of property magazines, TV programs and websites is making it harder than ever to have realistic expectations about what you can afford — with many Aussies putting off important life stages, like having children, in the quest to afford the perfect property.

“It’s essential to begin this buying process by having an open discussion with your partner, family or financial adviser to discuss what you can afford and what compromises you might have to make.”

THE COUNTRIES MOST OBSESSED WITH THE PROPERTY MARKET

Country Hours spent on property research (per week)

UAE 6.6

USA 4.95

Taiwan 4.54

Mexico 3.56

Singapore 3.29

UK 2.65

Australia 2.51

Canada 2.08

France 1.74

(Source: HSBC)

Originally published as Aussies more property geeks than fitness freaks: HSBC study