Are more people likely to move to regional areas?

Brisbane always be a good place to move if not short of job opportunities,
If people WFH or retired, they might move to coast town or inland not Brisbane?

 

I agree that lifestyle towns will see higher price growth than Brisbane over the next few years.

That said, in terms of the capitals though...Brisbane will perform more strongly than most...if not all...of its peers.

 

Paging @Boss here's some confirmation bias for you


Housing boom in Central Queensland sees house prices rise by up to 10 per cent

 

Yep...read that earlier today but was too busy to post.

People moving to more far flung areas...who'd have thought?

 

Borders open on Tuesday.

Let the games begin!!!

 

The regions have comparatively high unemployment.

In saying that, however, in the previous couple of months a house sold in Byron Bay for 22 million, a house sold on the Gold Coast for 27 million and a unit sold in Noosa Heads for 14 million.

So I think it's useful to understand that the housing market in the regions has always been driven by "outside money."

Offshore money and outside domestic money, for instance.

Take the Gold Coast for example: tourism has been smashed but millions are pouring into residential every day.

What's my point?

Unemployment rates mean absolutely nothing in the lifestyle regions...in terms of property price growth.

Outside money has always fuelled price growth in the lifestyle regions...and this trend will only ramp up further in a post-COVID world.

 

It said a lot of people buy remotely without being there!

 

Good point,
I remember Gold coast price is similar with Sydney Melbourne in year 2003, even for year 2008? Till now, it's still a big gap there, a lot of people bought more than 10 years ago might not making any profit considering the mortgage rate in 2008 is almost 10%?
I think it might due to the job market there? If gold coast have a lot of job opportunities, a lot of people might thinking about moving there so property price can be much higher?

 

Yea exactly. I don’t know anyone here who was from here (Sunny Coast) originally and has made enough money working locally to afford a nice place. Most have left to seek their fortune and returned or have made their money elsewhere before moving here hence they have a nice place, small / no mortgage and are able to take a lowish paging job (or they have businesses or work FIFO).

 

''The stronger performance across regional areas of Australia continued in November, with CoreLogic’s combined regionals index recording a monthly growth rate double that of the combined capitals.

Regional home values were up 1.4% in November compared with a 0.7% rise in capital city values.

Regional Queensland has led the rise in values over the past three months, posting a 3.2% lift.''

https://www.corelogic.com.au/sites/...us&utm_campaign=indies_all_awareness_20201201

 

Only arrived back here in Yamba last weekend, but the town feels abuzz with tourists everywhere. Many people eyeing off the real estate shopfront windows. December is usually a relatively quiet month with the lead up to Christmas; not so this year I suspect.

 

To my knowledge, I haven't had a lobotomy performed on me in the last few days, so will pass on heading south anytime soon.

 

This December/January will be exceedingly busy for the East Coast lifestyle areas in terms of RE sales.

Hope the agents have their running shoes on...they'll definitely need them.

 

Selling up in Sydney and moving north — why Queensland is the new real estate hotspot for interstate migration

 

Quote..
"Eighty to 90 per cent of my transactions over the last three to six months alone have all been from buyers either in Melbourne or in Sydney, which is just a phenomenal statistic."

Selling up in Sydney and moving north — why Queensland is the new real estate hotspot for interstate migration