Is the shift to the regions here to stay ?

Discussion in 'Property Market Economics' started by Serveman, 11th Apr, 2021.

Join Australia's most dynamic and respected property investment community
  1. D&J

    D&J Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    127
    Location:
    Sydney
    I'm already seeing and hearing more and more people spending more time in the office (either voluntarily or being requested to return to the office more often) or in the city /CBD more broadly i.e socially etc AND enjoying it and realising how good it is to be back

    Whilst working flexibly is here to stay, living preferences will largely return to what they previously were with people working at least a few days per week from home. The path of least resistance will always win
     
  2. boganfromlogan

    boganfromlogan Well-Known Member

    Joined:
    10th Jan, 2017
    Posts:
    3,332
    Location:
    Brisbane
    you know that paradigm shift .... another one is on the way. Due to warming climate, the flooding of coastal property will lead to more ppl shifting location to higher ground and inland. Mt Druitt will flourish beyond belief. Some really rich ppl will spend all their hard earned trying to hold the sea back and eventually get washed away. Anti vaxxers will die of a terrible disease.
     
  3. twisted strategies

    twisted strategies Well-Known Member

    Joined:
    1st Jul, 2015
    Posts:
    1,461
    Location:
    QLD
    i am not so sure WFH will be a big long term trend in Australia , once bosses get WFH sorted properly there will be a temptation to reduce Australian staff and have more work from ( say ) India/Pakistan

    i guess time will tell
     
  4. jaybean

    jaybean Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    4,752
    Location:
    Here!
    The tides will keep rising though. Doesn't that just mean Mt Druitt will become next on the chopping block, then?

    The only people who will really prosper look like this (which, incidentally, are likely to be from Mt Druitt anyway...so I take it all back):

    [​IMG]
     
    craigc and datto like this.
  5. boganfromlogan

    boganfromlogan Well-Known Member

    Joined:
    10th Jan, 2017
    Posts:
    3,332
    Location:
    Brisbane
    I assumed Mt Druitt has some high ground?
     
    datto likes this.
  6. datto

    datto Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    6,675
    Location:
    Mt Druuiitt
    A good number are as high as a kite. They’ll think it’s all an illusion as the waves start breaking at the railway station.

    “I got to get off this sheet, I think I just saw a dolphin”, will be a common expression out there.
     
    Stoffo and boganfromlogan like this.
  7. Phil_22

    Phil_22 Well-Known Member

    Joined:
    28th Jul, 2015
    Posts:
    153
    Location:
    Regional, NSW, Australia
    Regional Australia to see serious growth in 2020s

     
  8. mcdill

    mcdill Well-Known Member

    Joined:
    11th Jul, 2020
    Posts:
    106
    Location:
    Home
    I signed up to this free webinar about "20 minute cities"
     
  9. Blueskies

    Blueskies Well-Known Member

    Joined:
    24th Aug, 2015
    Posts:
    1,769
    Location:
    Brisbane
    Property couch did a recent podcast with Bernard Salt on this topic. His opinion that this phenomena is here to stay and will be driven at both ends of the market. Downsizing boomers but also older millenials who are finally settling down and belatedly buying their first home, but are not willing to settle for the traditional model of starting in cheaper "working-class"suburbs an hours commute from the city

    Episode 334 | Bernard Salt: The BIG Shift In Australian Property! - The Property Couch
     
    craigc and Phil_22 like this.
  10. Mark F

    Mark F Well-Known Member

    Joined:
    29th Jan, 2020
    Posts:
    1,029
    Location:
    Canberra
    Oh for the days when the cheaper "working class" suburbs were in the 0-5 km radius of the city centre and the expensive places were further out. First home in Irksomeville was 1.5 x annual salary.
     
  11. mcdill

    mcdill Well-Known Member

    Joined:
    11th Jul, 2020
    Posts:
    106
    Location:
    Home
    Thank you for the summary! Always find these types of topics to be very interesting.
     
  12. Observer

    Observer Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    606
    Location:
    Sydney
    Loved this one. With remote work and stable internet connection I’d move to a place like this in a heartbeat.
     
  13. WattleIdo

    WattleIdo midas touch

    Joined:
    18th Jun, 2015
    Posts:
    3,429
    Location:
    Riverina NSW
    The thing is, no-one's WFH anymore in the regions - not since about Aug 2020. And everyone's working their butts off. House prices are ridiculous and vacancy rates are extremely low. It's OTT - too much too soon. I wish that those who've taken the plunge would go back but it's not happening.
    Are the cities still over-crowded? While house prices are increasing and space is decreasing, those who know better will inevitably leave.
     
  14. Boss

    Boss Well-Known Member

    Joined:
    9th Mar, 2018
    Posts:
    1,282
    Yes you could say that the secret is well and truly out: all of a sudden the regions are booming.

    And thus far I see absolutely no evidence of a reversal either (vacancy rates still very low and stock on the market continues to decline too).
     
  15. Boss

    Boss Well-Known Member

    Joined:
    9th Mar, 2018
    Posts:
    1,282
    You're certainly not alone.

    45 properties sold in Agnes Water/1770 during March (the pre-COVID average was 10-15 per month).
     
    Observer likes this.
  16. Boss

    Boss Well-Known Member

    Joined:
    9th Mar, 2018
    Posts:
    1,282
    Interesting listening: "Australians are so motivated by lifestyle; the pursuit of lifestyle."
     
    craigc likes this.
  17. Observer

    Observer Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    606
    Location:
    Sydney
    Just something for perspective. Our company has about 20+ software developer positions open for hiring at the moment (about +100% growth compared to our current size in the region). While in the past all of those would be Sydney based the strategy changed and we are casting net wide and hiring people from anywhere in Australia or overseas as long as time zone is reasonably close (e.g. places like Perth, Singapore or NZ work fine as long as the candidate is technically strong). Salaries on offer are same as if the candidate was Sydney based, location does not matter there. All the work will be remote with no need to ever come to the office. Before COVID our work was completely office based. With remote work we noticed that it works better for everyone, performance has improved and people don’t need to commute, etc. COVID has been a very significant trigger for change in the way people work. Our strategy has changed to pretty much 100% remote work. Thus, I feel like the trend for employment/people to move to the regions will continue. Possibly not in all industries, but for quite a few it’s happening and won’t go back to pre-COVID days of 9-5 work from the office. My 2c.
     
    craigc, Toon, jakc and 2 others like this.
  18. Squirrell

    Squirrell Well-Known Member

    Joined:
    26th Sep, 2020
    Posts:
    999
    Location:
    Australia
    Once covid is done the govt is sure to flood aussie with immigrants again. I would guess most of them will head to big cities. And the regionals can only take so much growth before infrastructure falls apart eg byron bay. ..... its easier to move regional when in existing work not when looking for new work. And dont forget, most people dont work in white collar. there are plenty of jobs that require physical presence.
     

Do you need help with investment strategies, don’t want to buy the wrong stocks, or you just need a regular income stream? We provide the research to ensure your investment selections achieve the goals. This is the value of advice.