The Hunter Valley, Central Coast Toowoomba and Bundaberg are among some of the regional cities that have become hugely popular among city-dwelling Australians looking to relocate in regional Australia, a new report has revealed.
The mass exodus of Australians moving away from the CBD to snap up more affordable, spacious properties further afield has been described as the biggest property trend of the 21st century – and it’s making some regional cities skyrocket in popularity.
“More and more people realise the possibilities of working remotely – and thereby being able to escape the big, expensive, congested cities,” hotspotting.com.au managing director Terry Ryder wrote in his latest report.
“The fringe areas of major cities, regional cities, hill change towns and sea change enclaves are all beneficiaries of this compelling trend.”
A hot property market across the Wide Bay will continue to scorch in the new year according to leading real estate experts. These are the three rising star markets to watch.
Australians are still deserting Melbourne and Sydney in droves and moving to Brisbane or the regions, according to an online removalist booking company.
“We are a good proxy of the total people moving house in Australia - you would not look at our site unless you wanted to move,” Adam Coward from Muval told AAP.
Based on the site’s tens of thousands of inquiries each month, which closely track official interstate migration data, Melbourne saw a net annual migration of -54 per cent up till the end of November.
City dwellers hunting for their slice of bush paradise to escape pandemic lockdowns in larger cities are creating a property boom in the south-east Queensland city of Bundaberg.
Buyers can still find a home on a big block for under $300,000 in the coastal city, which is just a few hours' drive from Australia's most expensive real estate hotspot, the Noosa Shire.
There are jobs aplenty in health, hospitality and agriculture. The city also boasts easy access to the Great Barrier Reef and pristine uncrowded beaches.
City slickers are turning their backs on the big smoke with some Queensland regions recording 30 per cent house price growth in 12 months. FIND OUT HOW MUCH YOUR HOME IS WORTH.