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Three bedroom houses are the property type of choice for Australians, with RPData reporting that 38.1% of all dwelling sales involve this type of home.
A relatively large proportion of sales were also recorded for four bedroom houses (25.0%) and two bedroom units (13.2%).
The least popular product types were; one bedroom units (3.3%), five or more bedroom houses (4.5%) and two bedroom houses (7.4%). The results also show an on-going preference for detached houses, with 75% of all sales for houses rather than units.
Half of sales in the detached housing market (50.8%) were for three bedroom dwellings, with 33.4% for four bedroom houses. Within the unit market, 52.7% of all sales were for two bedroom units and three or more bedroom units accounted for 34.3% of all sales.
At a national level, the median selling prices across the different product shows that the most popular product types; three bedroom houses, four bedroom houses and two bedroom units, had median selling prices of $365,000, $475,000 and $365,000 respectively.
The least popular product types; one bedroom units, five bedroom or larger houses and two bedroom houses had median selling prices of $332,500, $629,000 and $360,000 respectively.
Across individual capital city markets, three bedroom housing product was the most popular product type across every capital city except Perth where four bedroom houses were slightly more popular. For units, two bedroom products were the most popular.
In most cities, two bedroom houses are more expensive than three bedroom houses. This is reflective of where they are typically located and the popularity of three bedroom houses is probably a reflection of the price point.
Overall, RPData says the research highlights the importance of effective pricing and delivering the correct product mix to the marketplace.
“Home buyers broadly across the country show a preference for three or four bedroom houses and two bedroom units. In the main it appears that they want to spend less than the city-wide median price if possible and buyers appear to be willing to sacrifice extra bedrooms in order to purchase at a more affordable price point.”
