According to a study conducted by Real Insurance, more than 2 in 5 people have either considered moving, or have moved, to a regional area in the last couple of years. In addition to going rural, about two-thirds of those surveyed relocated to areas that were close to a coastline.
So what’s sparked the desire to ditch the city and go rural or coastal?
Though the pandemic was the initial catalyst for homeowners to pack up their belongings and move away from the city lifestyle, over time more people have moved to regional areas for a multitude of other reasons.
In this blog, we explore why homebuyers are relocating to regional areas, and where the best regional spots are in our great country.
Hundreds of Australians have flocked to regional areas to adopt a relaxing and peaceful lifestyle.
In addition to this, homebuyers have made the move to these rural and coastal areas as they are more likely to get support from governments. In multiple states and territories, homebuyers might be eligible for the First Home Owner Grant (FHOG). Additionally, there are multiple schemes that support first homeowners, including those based in regional areas.
With more people working remotely, moving to a regional area that’s quieter and tucked away from noisy cities has plenty of appeal. When paired with the affordability of rural or coastal homes, it’s no wonder that homebuyers are opting for regional locales. Being able to work out of your home while surrounded by picturesque areas makes for a match made in heaven. Living out in regional areas also means you can avoid overcrowded spaces, bumper-to-bumper traffic and a concrete jungle.
Another aspect that’s driving more people to go regional is their family. When going rural, you have the opportunity to invest in a home that has ample space for playing and growing. And if you go close to the coast, you have easy access to a natural playground – the beach! Regional homes give families the chance to explore natural wonders in their own backyard.
There are many regional locations around Australia that all have unique characteristics and advantages for living in.
For the Victorians, places such as Echuca and Cobram are excellent locations to buy in. Both areas line the border to New South Wales (NSW), and have verdant surrounds and wide diversity in produce.
In NSW, meanwhile, locations like Goulburn provide ample closeness to Canberra while being affordable for new homebuyers. Though if you’re after something along the coast, then keep an eye on locations such as Nambucca Heads – picturesque coastal living at affordable prices!
If you want to migrate up north, then Queensland has a plethora of places for you to investigate. Places like Toowoomba and Gympie both have slow growth rates and can be the sleepy, yet charming location to kick-start your homebuying journey.
And if you’re thinking of going a bit further south, then South Australia (SA) has many affordable locations for you to explore. From the picturesque Mount Gambier to the quiet coastal town of Kadina, SA has plentiful locations that are perfect for your first home.
1st Street Financial can help you out! Our team of mortgage brokers are home loans specialist in Australia that can help you find a loan that’s right for you. Talk to one of our experts today, and we can help you get the finances you need for your regional home! 1st Street Financial home loans South Coast broker Dave Ryman has recent experience in making the move from the city to the coast.
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