The Burrow
Jun 2, 2025
Location, location, location. We’ve all heard this age-old adage for the importance of location for properties. How true is it though?
The home loan interest rate and refinancing experts at Compare the Market Australia wanted to understand just how important location is for people across different walks of life. As well, we wanted to see which household amenities people would be okay with forgoing in order to live close to the city.
To do this, we surveyed more than 3,000 people across Australia, Canada and the United States.
Here’s what we found.
It turns out that Australians reported the least interest in both downsizing and city living in general, with 29.4% of Australians reporting no desire whatsoever to live in or near the city, and a further 41.9% being unwilling to downsize their home in order to live closer to the city.
In comparison, Canadian and American respondents reported a much higher interest in downsizing for city living, at 25.5% and 22.7% respectively.
A much larger portion of both Canadian and American respondents reported living in the city currently, at 27.4% and 16.4% respectively, compared to just 9.9% of Australians.
| Australia | Canada | United States | |
|---|---|---|---|
| Willing to downsize | 18.8% | 25.5% | 22.7% |
| Not willing to downsize | 41.9% | 27.9% | 32.2% |
| No desire to live near the city | 29.4% | 19.2% | 28.7% |
| Already living in the city | 9.9% | 27.4% | 16.4% |
Note: Values may not add to 100% due to rounding
For those that are interested in downsizing, pools shone through as the first thing occupants would be happy to give up, with 57.9% of Australians, 51.4% of Canadians and 40.4% of Americans surveyed happy to trade their pools for city living.
Beyond swimming pools, the responses became quite varied per country.
For Australians, 42.1% of respondents were most happy to give up garden sheds, a large jump from the 28.8% and 25.9% of Canadian and American respondents who would do the same. Finally, backyards placed as the third amenity, with 35.8% of Australians being happy to give these up for city living.
Canadian respondents were more divided, with the second highest response being garages, at 29.2% of Canadian respondents, followed by garden shed and built-in robe both landing with 28.8% of respondents.
American respondents reported a similar sentiment to Canadians, with 33.8% being happy to give up their garage for city living. Following this, backyards placed as the third top amenity that American respondents are happy to give up for city living, with 29.4% voting in favour.
| Australia | Canada | United States | |
|---|---|---|---|
| Garage | 17.9% | 29.2% | 33.8% |
| Car park space | 17.9% | 19.5% | 22.8% |
| Pool | 57.9% | 51.4% | 40.4% |
| Backyard | 35.8% | 20.6% | 29.4% |
| Spare room | 33.7% | 26.5% | 27.2% |
| Laundry | 11.1% | 16.0% | 16.2% |
| Built-in robe | 16.3% | 28.8% | 23.7% |
| Garden shed | 42.1% | 28.8% | 25.9% |
| Patio | 11.6% | 12.5% | 13.2% |
Note: Multiple answers (max. 3) could be selected, as such total exceeds 100%
Conversely, there were some household amenities that respondents did not want to give up for city living.
For Australian and Canadian respondents, a laundry was the household amenity they value the most, with 50.0% and 41.2% of Australian and Canadian respondents, respectively, being unwilling to part with it.
Following this, Australian respondents valued spaces for their vehicle, with car park space and a private garage placing as Australians’ second and third most valued amenity, as 38.9% and 34.7% respectively.
Similarly, following a laundry, Canadian respondents valued car park spaces heavily, with 39.7% being unwilling to give up their car spaces for city living. Surprisingly, Canadian respondents also valued their backyards, with 37.7% not being okay with giving up backyard space for higher density living.
For American respondents, having a backyard was the most common factor that respondents desired keeping. Interestingly, American respondents were divided in their thoughts on having a garage as part of their home, even though it landed as the second most voted home amenity American respondents would be okay with foregoing for city living. Over a third (37.7%) of American respondents reported not wanting to give up their personal garage – the same rate as those that value having a laundry.
| Australia | Canada | United States | |
|---|---|---|---|
| Garage | 34.7% | 37.0% | 37.7% |
| Car park space | 38.9% | 39.7% | 30.3% |
| Pool | 12.6% | 15.6% | 27.2% |
| Backyard | 22.6% | 37.7% | 38.2% |
| Spare room | 30.0% | 28.4% | 28.9% |
| Laundry | 50.0% | 41.2% | 37.7% |
| Built-in robe | 24.7% | 7.8% | 9.6% |
| Garden shed | 10.0% | 8.2% | 10.5% |
| Patio | 10.0% | 16.7% | 14.9% |
Note: Multiple answers (max. 3) could be selected, as such total exceeds 100%
Compare the Market’s General Manager of Money, Stephen Zeller, notes the importance of comparing home loans, no matter where you’re looking.
“Whether you’re in the market for a sprawling Queenslander, or a compact apartment downtown, it’s always important to compare your options,” Mr Zeller said.
“Purchasing a home, no matter the location or size, can be a daunting experience, so it’s good to keep in mind the tools you have at your disposal.
“Knowing which home amenities you definitely want and which you’re willing to compromise on can help you narrow down which properties are right for you.
“In addition, using comparison services can help you find a competitive interest rate on offer for you and your chosen property, potentially leading to savings over the course of your loan.”