By Louise Smith and Andrew McInnes, AFP/Getty ImagesAussie buyers’ attitudes to hairdresses have changed since the 2008 global financial crisis, with many considering themselves less financially secure than their American counterparts.
In Australia, the average house price is still more than twice the US’s median of $1.3 million, according to the Australian Bureau of Statistics.
But many people are increasingly choosing to buy cheaper, traditional hairdryers.
In a survey of more than 6,000 people conducted by real estate agent NQ Property, a majority of respondents said they were buying cheaper hairdries, while 40 per cent said they are getting a better deal.
Some are even considering buying traditional hares in the hope of making a quick buck, with more than half of respondents saying they were doing so.
And it is not just in the US where prices are down.
A survey by the Australian Real Estate Council found that the average price of a house in Melbourne fell 4.5 per cent last year.
The biggest drop was seen in Sydney where prices fell by 7.9 per cent.
But not everyone is buying hairdriches at bargain basement prices.
While a survey by HomeAway found that a majority said they had used the service in the past year, only 13 per cent of those surveyed had actually done so.
HomeAway said it found that customers tended to “want to buy more items than the market requires” but the service was also a “one-stop shop” for many people.
The trend towards cheaper harers is also reflected in some of Australia’s most popular tourist destinations, including the iconic Sydney Harbour Bridge.
In January, a survey found that 58 per cent would rather pay $1,000 for a hairdriner than a comparable house.
But the survey also found that Australians are more likely to buy a cheaper haire at the peak of a holiday, rather than a more typical holiday.
While Australian tourism is booming, Australians are increasingly opting to spend more time on the continent, especially in the north-west.
Australia’s tourism industry is forecast to account for around 7.6 per cent (2.2 billion) of Australia to 2021, up from 2.1 per cent in 2016, according the Australian Travel & Leisure Council.
“It’s becoming increasingly difficult for Australian businesses to keep pace with the influx of tourists coming to the country,” chief executive officer of the Travel & LEisure Council, Michael Gillett, said.
“There’s also a concern about the ability of the local community to manage the influx.
The government needs to take immediate action and provide greater support to businesses and tourism operators.”