Australians are moving to regional centres in droves
Jennifer Bachir CPA | May 21, 2018
Regional Australian towns have a lot to recommend at the moment. A close-knit community, shorter commutes and greater affordability than what you might find in our capital cities.
The real winners in regional real estate are those towns experiencing economic growth and within an easy commuting distance to a capital city
According to a recent realestate.com.au property report, here are the top 4 regional towns that are hitting the sweet spot for Australian buyers right now:
1. Ballarat, Victoria – Seeing the most significant jump in demand over the last year (up 62.1%), Ballarat is just a little over an hour's commute to Melbourne's CBD with median house prices ($329,000) half that of Melbourne. With larger houses and land, it’s likely first home buyers and young families are driving this demand.
2. Orange, New South Wales – Demand for country properties in Orange is surging ahead (up 40%). That’s a cool double of demand percentages in Sydney. Local jobs growth in health, education, tourism, agriculture and mining combined with far more affordable homes ($380,000 median house prices) makes the town particularly attractive.
3. Mackay, Queensland – An idyllic tropical location almost 1000km north of Brisbane, property prices in Mackay have risen 10% over the last 12 months with a median price of $330,000. Unemployment in the town is now at its lowest rate since 2014. It’s position as a gateway to the Great Barrier Reef and Whitsunday Islands means tourism is booming, pushing property demand numbers up 31.5%.
4. Launceston, Tasmania – While Hobart property prices have soared, her sister city looks set to follow suit. Prices have increased by 18.9% over the past 12 months and buyer demand is up an incredible 37.1%. Like Hobart, this is likely driven by low levels of new housing supply as well as jobs growth in the area.
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