The regional housing boom is a topic of interest for everyone looking to invest in a home. Whether you’re looking for one in a lovely, family friendly neighborhood to settle down or one in a strategic location for investors looking to ride the waves of success and growth of the Aussie property market, you need to know about the market and housing trends.
The regional housing prices have been flying high with an unprecedented boost, in spite of the pandemic restrictions and lockdowns, which has made the annual gains strike 30%.
But what is the reason behind this unprecedented, steep growth?
Every surge and fall in the housing prices has many key factors engendering it. A shift away from capital cities to live far away from the bright city lights and the hustle and bustle of the concrete jungle, lower interest rates which facilitate owning a house, a higher household savings aspect and relative affordability are some of the key factors motivating the growth of regional housing prices.
However, no matter how beneficial it seems, many experts have also expressed their skepticism over the shift away from metropolitan cities as they believe this shift may force the regional houses to lose their affordability factor, leading to major price hikes!
Some regional markets have recorded sky high rates which are higher than their capital cities. Surpassing their respective capital cities, Byron Bay and Noosa on the Sunshine Coast have already recorded median house values surpassing a whopping $1m.
How are regional markets riding the housing rates incline wave?
Due to several factors, like the ones mentioned above, some of the regional housing markets like Buderim, Helensvale, et cetera have been defined as the best performing regional markets. Shoalhaven along with Southern Highlands recorded the biggest annual rise in rates (35.9%) whereas the highest sales growth (77.1%) were reported by New England and North West.
The great and unprecedented performance of the regional housing markets across the country depicts a great transition from cities to suburbs and a positive and strong investment opportunity with strong returns.
If you’re an investor or homebuyer, looking to move away from the city and invest in the regional market, get in touch with us our expert property strategists and consultants at 02-81230180 or dropping us an email at info@successavenue.com.au
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