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. Redwing

    Redwing Well-Known Member

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  2. Boss

    Boss Well-Known Member

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    Agnes Water has been fully booked for quite a while...and yet...not a fast food franchise in sight?
     
  3. Boss

    Boss Well-Known Member

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    Um...at the moment...you can't get away from people on the East Coast.

    So even if people don't want to be near each other they have no other option in practical terms.
     
  4. Boss

    Boss Well-Known Member

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    Sydney cases back under control...or spiralling out of control across Greater Sydney, the Blue Mountains and Wollongong?

    The above illuminates why comparatively remote lifestyle locations are presently in such high demand.
     
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  5. Firefly99

    Firefly99 Well-Known Member

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    It’s not just capital cities that have international airport restaurants, schools, hospitals, etc. Some regional cities have all this too.
     
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  6. TylerJamesson

    TylerJamesson Well-Known Member

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    Newcastle is pretty good in so far as space, large homes/value for money, proximity to beaches, shopping, food, Hunter Valley and Port Stephens very closeby and an airport which Qantas and Virgin flys to all major capitals along with NZ.

    The Newcastle mkt has been going gangbusters with folks escaping from Sydney and Melbourne.

    COVID isnt going away even with a vaccine. There will still be cases - you'll just be at greater risk living in high-density environments, high rise office or apartment.
     
  7. Bombers86

    Bombers86 Well-Known Member

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    I have been following this thread for a while, it's becoming more difficult to follow with the increasingly aggressive opinions of some on this forum but I did want to add some info as I live and work (in construction) in a regional town in Victoria.

    This year we have definitely seen an increase in enquiry, I speak to local real estate agents weekly and they've been busier than ever. The government HomeBuilder grant also meant that any titled land sold and everything is pre-sale now (some developments won't title for 2 years but still selling, I see major issues with this re: cancellations in the future but that is another story). I have always found in country towns, due to the abundance of land for people to build, new homes are always popular. But now with the lack of land supply due to government incentives, this will push people back to established homes. This is driving up prices. But I feel it's unsustainable. There was a sense in the community that "people from Melbourne" were coming up here and buying all the houses over the last few months. When yes there has been an increase in buyers from Melbourne (they've always been there), I'm actually finding it is mostly locals selling and buying new or upgrading their PPOR as there is a little FOMO due to this sense of "we better get in before all these people from the city come here". There is also a severe lack of stock on the market pushing prices up, I'm tracking this in several communities nearby (ie. Shepparton, Albury/Wodonga). Please understand these markets were ALREADY busy before COVID hit too, I remember attending a local auction last November where over 100 people attended which was unheard of at the time..

    I think what has happened during COVID is people originally from regional areas, that have moved to Melbourne, are simply returning home. They want to raise their kids here, their family still live here, it's something they'd planned to do within the next 5 years anyway but COVID has brought those plans forward, so yes more people have pushed out of the city, but they were always coming. The other sentiment I'm feeling is money is so cheap, people have saved cash and they are wanting to buy a holiday home (IP) as rates are low and the media is fuelling this. Again this can cause major issues in the future, what's the first thing to go when times get tough - the holiday home.

    This so-called "exodus of capital cities" is exaggerated and unsustainable. Yes people have realised they can work from home, but they'll do this in the cities, they'll just live in suburbs on bigger blocks in bigger homes. No longer in apartments closer to the CBD. I think middle-ring suburbs will have huge investment potential in the coming years. Capital cities are rising just as much as regional areas, if you track Core Logic data every capital is now on the rise. The fundamentals here are low interest rates and low stock. This is the same in the regional areas I live in and work near. You cannot say it's simply COVID-related.

    This last part is anecdotal but I have friends and family who live in Melbourne, during COVID they wanted out. I've since spoken to them over Christmas and guess what - they're staying in Melbourne. I also ran into a local real estate agent the other day and he said usually his phone rings flat out at this time of year but he mentioned it had been as quiet as he'd experienced all year... I found this very interesting.

    I'm invested in both regional areas, and capital cities just FYI. Regional areas don't have the infrastructure to cope with a huge influx of people. We all want our investments to go up in value, but also be very careful what you wish for...
     
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  8. The Y-man

    The Y-man Moderator Staff Member

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    When did Perth (according to your profile) become a regional Vic town? :D:D:D

    Great post BTW.

    The Y-man
     
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  9. Boss

    Boss Well-Known Member

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    Plenty of people have been priced out of the capital's by outside money (immigrants).

    So the phenomenon of people being priced out by outside money is not exclusive to the regions.

    And was anywhere in Australia (capitals or regions) designed for today's populations?

    I don't think any form of infrastructure...anywhere...copes particularly well, for example.

    That said, I still think Australia is the greatest nation on earth and offers a better quality of life than anywhere else though.
     
  10. Bombers86

    Bombers86 Well-Known Member

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    Haha yes, great point. I lived in Perth for many years and quite clearly haven't updated my location! Never even noticed it so thank you for pointing it out.





    {Note from mods - this thread continue here: Are more people likely to move to regional areas in 2021?}
     
    Last edited by a moderator: 8th Nov, 2021
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