Any Melbourne defectors out there?

Discussion in 'Property Market Economics' started by JL1, 24th Aug, 2020.

Join Australia's most dynamic and respected property investment community
  1. JL1

    JL1 Well-Known Member

    Joined:
    24th Dec, 2016
    Posts:
    1,134
    Location:
    Australia
    Lots going on in the markets and its all happening faster than the numbers can reflect. Given population data already lags 9 months behind reported times, I'm very interested in anectodes on migration at the moment.

    One thing that looks to be an emerging trend is people jumping ship from Melbourne. I personally know of several people who have done this, mostly now staying with family in other states. Seems to be mostly a Victorian thing, so I'm curious if its spurred more by changing jobs (noting from SEEK reports that Melbourne's job market is taking twice the beating of other states) or if its a direct response to ongoing tighter lockdown restrictions.

    I'm interested to hear if anyone out there has jumped borders (or even moved regional), and if they see it as a temporary move or the start of something more permanent?
     
  2. MTR

    MTR Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    27,859
    Location:
    My World
    Good post
    Looking forward to hearing who if any on here doing this
     
  3. The_Billy

    The_Billy Well-Known Member

    Joined:
    19th Mar, 2018
    Posts:
    154
    Location:
    Sydney
    I don't think societies memory lasts that long and things like this will only be temporary. There may be a temporary jump in people leaving now but given time different people will return in droves and the demand for Melbourne will boost ... You can apply this principle to almost everything... i.e. people returning to property after a crash generally, returning to countries after a war, buying into bitcoin after the bubble burst, bank shares, dotcom bubble. Its just temporary. A few people may leave Melbourne after being affected by COVID but a bucket load will fill the gap in the next 5-10 years.
     
  4. albanga

    albanga Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    2,701
    Location:
    Melbourne
  5. albanga

    albanga Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    2,701
    Location:
    Melbourne
    I will add though that I didn’t think many people would but after Dans latest move it may become more a reality.
     
    Last edited by a moderator: 25th Aug, 2020
    MikeyBallarat, craigc and sqe like this.
  6. Mark F

    Mark F Well-Known Member

    Joined:
    29th Jan, 2020
    Posts:
    1,033
    Location:
    Canberra
    Don't worry - NSW and SA are making sure nobody breaks out of the Victorian gulag.
     
    datto likes this.
  7. Lizzie

    Lizzie Well-Known Member

    Joined:
    9th Jul, 2015
    Posts:
    9,627
    Location:
    Planet A
    Talking to Newcastle Council development officer today (yay, DA approved) - and they said they've been absolutely flat out with applications ... mother in rural NZ said the market is running hot outside, but within driving distance, of the major cities ... local large cellar door said July was their highest financial month since they opened 16 years ago

    Suspect many city folk have had a serious rethunk of their lives
     
    MikeyBallarat likes this.
  8. JL1

    JL1 Well-Known Member

    Joined:
    24th Dec, 2016
    Posts:
    1,134
    Location:
    Australia
    Given the huge influx in 20-30 year olds over the last 5 years i would challenge that its a given people will simply come back after if they do leave. Lots of people always have the intention to head home to start a family, this could be a big catalyst for it. I guess there are a lot of reasons for people to take various courses of action, i was hoping to get any first hand accounts
     
    Mark F likes this.
  9. Graeme

    Graeme Well-Known Member

    Joined:
    26th Jul, 2015
    Posts:
    874
    Location:
    Benalla
    I'm a refugee from Melbourne, currently out in regional Victoria.

    My partner got a job up here, working on precast sections for the Westgate Tunnel, and I followed her up at the end of last year.

    It wasn't part of a grand master plan, and it's possible that we'll be back in Melbourne or even up in Sydney. It really depends on what happens with work and the pandemic.
     
    MikeyBallarat and JL1 like this.
  10. Robbo80

    Robbo80 Well-Known Member

    Joined:
    21st May, 2018
    Posts:
    586
    Location:
    Vic
    If global warming is the real deal, then a seismic shift towards Melbourne and Tassie looks inevitable in the long run.
     
    Anchor likes this.
  11. Mark F

    Mark F Well-Known Member

    Joined:
    29th Jan, 2020
    Posts:
    1,033
    Location:
    Canberra
    I suspect it may be similar to the situation that existed in Canberra for many years. Lots of young people came in to join the public service and on retirement the fled, some to the coast, others back to their home town. This eventually broke down as their children that had been born and raised in Canberra chose to remain.

    Now it only the cold winters that drive people to leave. :D
     
  12. Traveller99

    Traveller99 Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    755
    Location:
    Settled
    I’m heavily invested in Melbourne but am looking at options to possibly move everything from the state.
     
    JL1 likes this.
  13. Robbo80

    Robbo80 Well-Known Member

    Joined:
    21st May, 2018
    Posts:
    586
    Location:
    Vic
    What are you selling? If you are serious.. pm me :)
     
  14. Traveller99

    Traveller99 Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    755
    Location:
    Settled
    Victoria has a tendency to have periods where the population leaves in droves. Think of the end of the land boom in the early 1890s, and the recession of the early 1990s. I would not be at all surprised if we see another exodus coming.
     
  15. MTR

    MTR Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    27,859
    Location:
    My World
    can you elaborate? If you care to share
     
  16. MTR

    MTR Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    27,859
    Location:
    My World

    Yet Melb had highest immigration, number 1 in Australia prior to covid
     
  17. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

    Joined:
    18th Jun, 2015
    Posts:
    42,006
    Location:
    Australia wide
    As soon as I heard about the lockdown I moved back to Sydney from VIC. Still got half of my stuff down there tho and can't go back to get it.
     
    albanga and JL1 like this.
  18. Casteller

    Casteller Well-Known Member

    Joined:
    29th Jun, 2015
    Posts:
    1,415
    Location:
    Barcelona, Spain
    I know it's a natural instinct to escape, and I would have if l could have (to my beach house 95km away), but this was a mistake of Victoria if it allowed people to escape the lockdown.
    For example, Madrid gave notice and people split, spreading the virus all over the country. Barcelona gave notice, but then locked down a surprise day early on Sunday, catching anyone trying to leave the city, who then had to stay exactly where they were, for the next 12 weeks.
     
    Terry_w, The Y-man and wylie like this.
  19. Simon Hampel

    Simon Hampel Founder Staff Member

    Joined:
    3rd Jun, 2015
    Posts:
    12,415
    Location:
    Sydney
    Apparently we have a collective memory of about 5 years - so while COVID-19 is a significant enough event that it will remain in people's memories for a very long time, any change in sentiment towards any particular locations will have faded in a few years.

    So I agree - if there is an impact it will be temporary.
     
    The_Billy and charttv like this.
  20. JL1

    JL1 Well-Known Member

    Joined:
    24th Dec, 2016
    Posts:
    1,134
    Location:
    Australia
    If you don't mind me asking, is this a permanent migration or do you intend to head back to Vic once things settle? And were you originally from NSW?