A MAJOR shift in priorities is taking place in Australia with many of us opting for a regional lifestyle change over the hustle and bustle of city life.
The Australian Bureau of Statistics data from earlier in the month confirmed what everyone had been saying about the regional property market boom with intrastate migration overtaking internal and international movements.
According to Ray White data, rural offices across the country have 2,171 total listings on the market - this is down 17 per cent on last year and 34 per cent on 2019. But in February, new listing authorities were on the way up with 406 coming to the market, only four less than the same period in 2019 but up 5 per cent on 2018 activity.
Unconditional sales volume was up 33 per cent from 230 in February last year to 307 this year. While, over the same period of time in 2019 there were 173 unconditional sales. This activity has tipped regional markets firmly towards a seller’s market with no end in sight to buyer demand.
Ray White Mudgee director Trent Robertson has seen no shortage of buyers moving to the area seeking a lifestyle change for them and their families. In December, Mr Robertson sold the three homestead ‘Lismar Lodge’ property to Bargo local Jodie Croker (pictured at top on the right with her daughter Taylah), her fiance Mitch and her father Dave (pictured above) who moved from Sydney’s Sutherland Shire. Ms Croker, who runs a campdrafting club with her fiance said COVID prompted them to look for something closer to family and with more space.
“Last year, everyone was in the same situation of being stuck at home. It made us realise that we just wanted to get out of where we were,” Ms Croker said.
“Now up here, we have space and if we went into another big lockdown then we have family nearby and more room.”
Ms Croker’s father, who she described as “the biggest city person you’ve ever met”, also made the decision to move off the back of nearly a year in lockdown.
“We were looking at buying in Mudgee for a while but there was nothing that suited our needs that was within our price range. Then dad came to us and said he wanted to move here too which gave us more options,” she said.
“He felt he was too far away from everyone and while he wasn’t looking to move to the country specifically, he fell in love with the area and we put an offer on the house the same day we inspected it.
"I love being able to spend more time with him and he is now looking at buying some cattle which is a new adventure for him."
Ray White Eyre Peninsula principal Chad Kirby said for the first time in 16 years his office is running out of homes to sell.
“People are coming from everywhere and anywhere. It’s gone crazy, we’ve never seen anything like this and because of the craziness of the market we are seeing people who we never thought would sell deciding now is the time to capitalise on the market,” Mr Kirby said.
“Buyers are all mainly coming from cities and they just want a better life for themselves and their children. They don’t want to have to be worried about COVID and lockdowns anymore.
“They want to work to live and not the other way around.”
While the Eyre Peninsula market is not known for auctions, Mr Kirby has made the decision to sell his recent listing at 5A Flinders Drive, Streaky Bay (pictured above) under the hammer to take advantage of the intense buyer interest he’s received.
“Judging by the feedback we are receiving, we are expecting this to sell for a record price, selling anything for essentially $1,000,000 is unheard of in this area,” he said.
“Even before we secured the listing we were inundated with calls, emails and people stopping us in the street asking us to let them know when it’s going to auction.”
Ray White Kawana agent Dan McNamara is facing a similar situation on Queensland’s Sunshine Coast. The laidback, coastal destination boasts some of the country’s best beaches and has also been inundated with seachangers from across Australia.
Mr McNamara has seen a host of mature age buyers who he said had always wanted to make the move but never had the guts to do it until now.
“Obviously all the restrictions are pushing retirement plans forward and many people want a change of pace in their lives,” Mr McNamara said.
“But we are also seeing a lot of younger professionals moving here from Brisbane, Melbourne and Sydney. They want the lifestyle that the Sunshine Coast is famous for and most are coming up between lockdowns and securing what work they can and settling into the lifestyle.”
Over the past few months, Mr McNamara has had his listings snapped up by eager buyers including a recent property at 53 Pimpala St, Wurtulla (pictured above) that went for $676,000 at auction. The auction attracted 21 registered bidders and ended up achieving $56,000 above the strongest offer prior.
“The speed of the auction surprised quite a few people, 13 active bidders were outbid within a minute which no one expected,” he said.
“The buyers bought sight unseen from Sydney, they were looking for a different lifestyle on the coast and for them and many others, it wasn’t so much about what they can buy but what’s available - overwhelmingly people just needed to buy as opposed to looking around and being picky.”
