Westpac report shows 74% of first-home buyers consider buying in new areas to enter market

• Westpac’s Aug. 1, 2026 Home Ownership Report flagged first home buyers widening search areas to manage affordability pressures.
• 74% of first home buyers would buy in a location they had not originally considered; only 22% would rule out homes on location “deal-breakers”.
• Demand is shifting toward smaller dwellings: intent to buy houses fell to 53% from 64% in 2021; apartments rose to 29% from 17%.
• Townhouse purchase intent increased to 19% from 7%, reinforcing a move away from detached housing as entry prices bite.
• 55% of Australians expect recent negative gearing and capital gains tax changes to help aspiring buyers; Gen Z optimism ran at 70%.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Westpac Banking Corporation published the original content used to generate this news brief on August 01, 2026, and is solely responsible for the information contained therein.