Oliver Myers Real Estate
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Regional Markets proven to be strong

Regional Markets proven to be strong

  • 10 Aug 2020

We know we have said this in the past, and yet it continues to be true. The most recent news confirms our research and shows that regional house prices are outpacing capital cities.

 

And in fact, the doom and gloom predicted in house prices by the media some months ago has not come to fruition, and house prices have stayed steady or grown all over Australia.

 

Terry Ryder from Hotspotting, and the Property Observer, as well as The Urban Developer have released articles last week stating that even in (or despite of) the current pandemic, house values in regional areas are growing.

 

Regional property markets Australia-wide recorded an average 3.4% growth in the 12 months up to June 2020, which is almost three times the growth in the same period for capital city markets. NSW regional markets actually grew 5.3%!

 

With regional markets experiencing much fewer COVID-19 cases (some with zero cases), and because their local economy is less reliant on overseas tourism, and more robust in industries such as agriculture, construction, mining, etc which are less affected by the economic downturn during this pandemic, regional economies are still going strong. And in NSW at the moment when we can't travel to QLD or VIC tourism in NSW regional areas is booming!

 

It's not all about capital growth though. Regional markets have also increased with regards to the rental market too, with vacancy rates dropping, and more tenants looking for quality homes in regional areas.

 

All in all, good news for property investors who want to get a foot on the lower rungs of the property ladder and watch it climb.

 

Get in touch with us if you would like our source articles.

Tony took his time to meet my requirements

When looking for a property for my parents, I was introduced to Tony. After I described my requirements, he took the time to show me areas that fulfilled my requirements, and then specific locations, floor plans and similar new homes that he believed, based on my criteria, would be suitable. Thank you Tony.

- Mac
Maroubra

Nothing but wonderful!

My venture into my first home on the coast was made easy by the support from Tony and his team. They were nothing but wonderful!

- Katherine
Hamlyn Terrace

Willing to go the extra mile

Tony and his team were willing to go the extra mile to show us properties in new and growing areas that would be suitable to include in our investment portfolio. Following our earlier success in securing a new build on land in the Newcastle region, we were keen to investigate other locations which would provide capital growth and good rental return with a low vacancy factor. His team thoroughly researched all those requirements and provided great options.

- Roger Smith
Tea Gardens

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Tony and his team assisted us in buying a new off-the-plan home for investment purposes. We were given plenty of information on the location and trends in the area, and the types of properties that were popular with tenants. Tony has many trusted contacts in real estate and associated industries, and referred us to a quantity surveyor who has helped us claim a lot more depreciation than we thought we could, and to a great property manager that is making our life easy for us as landlords. It’s been a very successful relationship!

- P & L Sherrell
Mt Annan