Australians are spending several hours conducting property research each week, far exceeding the amount of time they spend at the gym or talking to their parents. An online survey by HSBC reveals Australians are dedicating an average of 2.5 hours a week to property research.
According to HSBC’s research, which surveyed 11,932 adults, Australia is the seventh most property-obsessed nation in the world. Adults around the globe were found to spend an average of 3.5 hours a week researching property, signalling that a “culture of property obsession” may be “sweeping the globe”.
Australians reportedly spend twice as much time researching property than exercising at the gym (1.08 hours) or speaking to their parents (0.88 hours). HSBC says the research demonstrates that cooling markets in Melbourne and Sydney have done “little to dent the property fixation” among Australians. The UAE and USA were reportedly the world’s most property-obsessed nations, clocking an average of 6.6 hours and 4.95 hours, respectively, on research each week.