Despite a rise in apartment living, Westpac NZ says Kiwis still want a home with a backyard.
A survey of more than 1000 New Zealanders' housing preferences commissioned by Westpac NZ, found that homes with backyards were still favoured and more important to Kiwis than living close to work.
- Aucklanders think their houses are going to drop in value for the first time in 10 years
- Average New Zealand house price reaches all-time high
- New Zealand median house prices rose 10 percent in 2018
Of those surveyed, 49 percent consider a backyard "essential" when buying a home, while a further 42 percent think it would be "nice to have".
"It's interesting to see that people consider having a backyard much more important than living close to work, public transport, parks or schools," said Westpac NZ housing lead, Robert Hill.
"Owning a home with a nice backyard has traditionally been central to the Kiwi dream, and the recent rise in house prices and increase in apartments doesn't seem to have dented that."
The survey also found that living in an area with a low crime rate was essential for 70 percent of Kiwis, while a location safe from environmental and climate change risks was also important.
Only 11 percent of people thought being close to eateries and bars was essential, and 28 percent believed it essential to be near to public transport.
The most essential feature of a home for Kiwis was it being warm and dry, followed by it being within budget, and then having a backyard.
But those living in the city are more prepared to forgo a backyard than those in smaller centres.
"City dwellers appear more willing to sacrifice a backyard to live in the big smoke and it will be interesting to see if that trend continues as more apartments and townhouses come on to the market," said Hill.
The research was conducted by Nexus Planning & Research, who surveyed 1008 people aged 18 and over who identified as "home owners, property investors or people planning to buy their first home in the next two years".
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