A New Survey From Trade Me Property Reveals Owning A Home Remains The Ultimate Dream

New research from Trade Me Property shows that owning a home is still a big deal for Kiwi, with 95 per cent of those surveyed aspiring to own their own property, with over a quarter (28%) per cent house hunting weekly and nearly one in five (18%) losing over an hour doing so.

Trade Me Property surveyed 1,000 New Zealanders to understand their thoughts on home ownership and how they browse for properties online.

Gavin Lloyd, Trade Me Property Customer Director said the survey found that 63 per cent of respondents see owning a home as an important life step and about a third (32 per cent) have always dreamed of owning their own place. That number jumps to 66 per cent for those that are renting.

"Owning a home is still the big Kiwi dream for most people, even with the economic challenges we've faced in recent years," Lloyd said “Home ownership is still central to many New Zealanders’ long-term financial security, with purchasing a property one of the biggest financial decisions many of us will make in our lives,” he said. “A mortgage-free home also makes up an important part of many people’s retirement plans.”

"We're a country that’s clearly obsessed with property. It’s also pretty telling that 80% of people still regularly check out houses online, even when they’re not seriously looking to buy.”

Nearly 40 per cent of Kiwi browse property listings every few weeks or more, with six per cent admitting they do it daily or more. Almost a fifth (18%) confessed to losing an hour or more after getting sucked into hunting for homes online.

"Kiwi are a pretty practical bunch, with looking at sale prices the main reason we tend to look at property online. But for almost half of us we browse for more emotional reasons like finding a bit of inspiration, giving us something to aim for or even simply for pleasure,” Lloyd added.

Kiwi ‘dream scroll’ for properties outside of their means

More than half of New Zealanders surveyed (59%) engage in what’s known as ‘dream scrolling’ - browsing homes they wouldn’t actually consider buying or that are out of their budget.

"We’ve coined the term 'dream-scrolling,' which perfectly captures the 'what-if' mentality. What if I won the Lotto? What if I could leave everything behind and move to the middle of nowhere? It's a way to momentarily escape reality and indulge in the fun of imagining what our lives could look like if we owned those dream properties," said Lloyd.

This habit is even more common among younger Kiwi aged 18-34, who are less likely to already be home owners, with three-quarters of them saying they regularly dream scroll.

People cited different motivations for dream scrolling, with the main reasons being setting a goal to aim for (41%), finding inspiration (35%), and simply being curious about how others live (33%). For over a quarter (27%) of New Zealanders surveyed it even provides a way for them to relax.

"Not only are Kiwi checking out listings that might be a bit out of reach, but they’re also invested in keeping an eye on these properties. About a fifth of respondents admitted to adding homes to their watchlist, even though they didn’t consider these properties were realistic options," Lloyd said.

Most often, people said they indulge in dream scrolling while watching TV (52%) or in bed (41%). Interestingly, one in five admit to browsing property listings while at work, and 12 per cent said they even do it while on the toilet.

“It turns out over half of Kiwi prefer looking through property listings over browsing dating sites (55%). In fact, 38 per cent would choose property scrolling over watching rugby, and surprisingly, 12 per cent would even prefer it to having sex,” said Lloyd.

“For two-thirds of those surveyed (66%), it’s a bit of harmless fun. However, younger New Zealanders sometimes feel a pang of guilt, as if they’re cheating on their current home,” he added.

Nosy neighbours

New Zealanders aren’t just browsing property listings with themselves in mind – they also admit to being curious about other people’s homes when they get the chance.

“Most of us can relate to spotting a house belonging to someone we know on the market and wanting to see what it looks like inside or how much it’s selling for. It’s always interesting to see how others live, but it turns out we’re especially curious about those closest to us,” said Lloyd.

Acquaintances top the list, with 31 per cent of people admitting to checking out their friends’ homes, followed closely by neighbours (30%), colleagues (15%), and the occasional celebrity. A smaller number even confessed to peeking at their boss's home (6%) or that of an ex (5%).

“This habit is especially prevalent among millennials, with only 37 per cent of them not engaging in this kind of snooping. In comparison, over two-thirds (66%) of baby boomers claim they haven’t indulged in this behaviour,” he added

Women are more likely to check out their friends’ and neighbours’ homes, while men are more inclined to look at the homes of their boss, workmates, or even famous people.

Top properties Kiwi would love to own

When it comes to dreaming about our ideal homes, New Zealanders have some distinct preferences based on age and gender.

Gavin Lloyd said when it comes to dream properties, there’s a clear divide in what Kiwi aspire to own. “Younger Kiwi are all about lifestyle blocks and city apartments, while those over 35 are still dreaming of beach houses."

Gender also plays a role in these preferences. Women tend to favour lifestyle blocks, with 29 per cent listing them as their top choice, compared to 19 per cent of men. On the other hand, men are equally drawn to beach houses and city apartments, with 20 per cent favouring each.

Lloyd added, "It’s interesting to see that even those who say they only browse within their budget can’t resist the allure of a beach house. It just goes to show that no one is entirely immune to a bit of property dreaming."

Other interesting insights from the survey respondents:

• 56% believe it's natural to enjoy the escape provided by looking at dream properties
• 19% say that looking at property online makes them feels like they are dissatisfied with their life/lifestyle
• 29% see dream scrolling as an escape from reality to imagine a different life
• 28% say dream scrolling helps appreciate their lifestyle/what they have
• 45% of millennials look at homes that are out of their budget
• 53% of gen z browse at properties that they won’t consider buying
• 18% look at property online because they are curious to see inside other people's homes

Survey methodology
This survey was conducted by external research agency Perceptive between 7th and 21st August. Perceptive spoke to a representative sample of n=1074 New Zealanders to understand their attitudes & behaviours around aspirational property scrolling.

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