News & Insights
Remote work has reshaped what individuals seek in a property. With the home also serving as a workspace, demand for properties with potential home offices or adaptable spaces has soared in Melbourne. Purpose-built office spaces that minimise distractions, enhance productivity, and cater to ergonomic needs are now key considerations for potential buyers and renters.
Architectural and design trends, too, are evolving in response to the work-from-home revolution, calling for designs that balance functionality and comfort. Property listings that highlight these assets are generating high buyer interest and often commanding higher sale prices.
The remote working direction has also fostered a renewed appreciation for outdoor spaces. With more time spent at home, Melburnians are valuing private outdoor areas like balconies, gardens, and backyards as essential components of their living spaces. Homes with well-designed outdoor areas are attracting a range of potential buyers, indicating a shift in property preferences.
However, the transformation doesn’t stop within Melbourne’s city boundaries. A migration trend accelerated by the COVID-19 pandemic fuelled the desire for professionals no longer confined to office-based work to move away from the uncertainty of city life. The Mornington Peninsula, with its alluring blend of coastal charm and urban amenities, witnessed an influx of ‘sea changers’ in recent times, which has increased property demand in the area. With technology bridging the distance, the dream of working from a scenic beach town setting is now a reality for many.
Remote working has also prompted a renewed focus on outdoor and recreational amenities. With professionals spending more time at home, particularly true for properties in the Mornington Peninsula, features like proximity to parks or beaches, and access to recreational facilities are becoming key selling points.
The impact of remote working on both Melbourne’s and the Peninsula’s property market is profound, altering property demand, design, and sales processes. As the work-from-home culture becomes increasingly ingrained, these changes will continue to shape the market’s trajectory. This evolution represents an opportunity to redefine living and working spaces, fostering an improved work-life balance and a reconnection with our homes and loved ones. The future of our property market lies in its ability to adapt and evolve in tandem with this new era of work and life.