Are more people likely to move to regional areas?

Discussion in 'Property Market Economics' started by PropDir, 8th Sep, 2020.

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  1. PropDir

    PropDir Well-Known Member Business Member

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  2. Boss

    Boss Well-Known Member

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  3. Boss

    Boss Well-Known Member

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  4. Boss

    Boss Well-Known Member

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  5. Boss

    Boss Well-Known Member

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  6. The Grinch

    The Grinch Well-Known Member

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  7. Boss

    Boss Well-Known Member

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  8. Robbo80

    Robbo80 Well-Known Member

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    Interesting. Any signs of price increases?

    Agent in article "Demand is high but prices are yet to rise" :S
     
  9. The Grinch

    The Grinch Well-Known Member

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    Not really any rises in prices as of yet. I don't monitor either markets that closely but just know our property department have been struggling to find rentals in Bundy.
     
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    BunnyXiao Well-Known Member

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  11. Robbo80

    Robbo80 Well-Known Member

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    Some interesting stats in the article but it is hard to reach any conclusion based on such a limited study to support that millenials are "fleeing" cities.

    Rather it suggests the opposite has only 15 of the 1000 surveyed have permanently left the "city" to date. To where, it is not made clear, but it could may well be to another city..
     
  12. Boss

    Boss Well-Known Member

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    The state border restrictions will be eased over the coming months...which will only accelerate the trend of people fleeing from the cities to the regions due to COVID...towards Christmas 2020 and beyond.
     
  13. Robbo80

    Robbo80 Well-Known Member

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  14. Bendigus

    Bendigus Well-Known Member

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    I read the afr article. It's stating over 30% of people prefer working from home.

    From my perspective, it would still be a significant change if just 20% of White Collar workers transitioned to working half home, half office.
     
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  15. kaibo

    kaibo Well-Known Member

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    This % would be less relevant than how many employers prefer their staff working from home. Especially with rising unemployment. The main reason it appeals to employers would be cost savings. The next step after moving these people to WFH would be to make them redundant by off shoring those jobs (WFH to off shoring is a natural progression for cost saving)

    I would say logically the trend would be Inner-city living to moving out to the suburbs not to Regionals. As an employer if one of my staff moved to regionals unless they were a super star (big sales or have skills no one has) I would reject it as I rather my staff being able to called out for a meeting with a client or myself in person at short notice. There's little upside to the employer for staff to move to regionals (t's not like they would take a pay cut)

    To progress in most careers you need to be able to network and it won't be a for a long time that face to face will be replaced with Zoom calls. Zoom OK for maintaining relationships but to build them nothing beats face to face

    I have speaking to a lot of people on top bracket and consensus there if an office option or WFH and one is aspirational they should have as many days in office as possible. CEO and upper management aren't going to be WFH . Out of sight and out of mind and being at the office will give you a great competitive edge (obviously if you are good)

    Regional generally has always been higher with worst drug problems due to lower socio-economic so be careful which region you choose. Yeah and also bushfires so next big bushfire probably a few months or years away but pandemic could be 50-100 years so just keep that in mind when which regional areas.

    Some regionals (minority) were going good before COVID and this will continue or even accelerate but just don't want anyone to get ahead of themselves

    If I owned an investment regional property (especially area prone to bushfire) it is actually perfect time to sell in to this hoping getting someone to buy unseen and believing the hype (perfect as if some buyers actually lived there for an extended period they wouldn't buy let alone live there).
     
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  16. kaibo

    kaibo Well-Known Member

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    unemployment, more people on government payments of some form and if working then on award wages, To get ahead in regional areas being self-employed would be more of a way to go compared to City due to lack of ASX companies HO in regional areas

    Also can't comment for other areas I am more talking about Melbourne vs Regional Victoria (over 90 minutes away from CBD during rush hour)
     
  17. Edd

    Edd Active Member

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    Yeah, naah. Many people don't like the office culture and want flexibility which this WFH has proven it. Open office...naah, too much distraction. Yes, there will be roles and time that require f2f and office presence but coming from IT and Sales, you don't need to always see the customer. I've a lot of senior level friends and C level too who now prefer regionals than crowded trains in the CBD. Drugs and crime is everywhere. It's a different world if you don't trust your employees and want control. We had low performers in the office and high performers work from home. The ones in the office got promoted...go figure :)
     
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  18. MTR

    MTR Well-Known Member

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    I predict ongoing lockdowns in Oz forever, leaders cant think past this...... lol

    so moving regional???? Dont plan too far ahead......Just hope to God you have a job in 6 months time
     
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  19. Robbo80

    Robbo80 Well-Known Member

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    Yeap definitely not looking good - Dan's strategy is gaining traction around the world due to UK's second wave.

    Banks will need to defer loan repayments until 2022 at this rate - vaccine nothing more than a pipedream at this stage.
     
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  20. Robbo80

    Robbo80 Well-Known Member

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    Great insights - IT and sales are definitely perfect for wfh.

    Would be interested to see which areas they have moved from and moved to if you dont mind sharing?
     
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