Australian Regional Home Demand Depletes

In the midst of the first wave of COVID across Australia’s capital cities, reports of rising regional property demand emerged, with a number of city-dwellers looking to the regions for a socially distanced slice of life.

However, the latest report by CoreLogic shows that prices in the regions are growing at a slower pace since the start of 2021 – especially when compared to the capital cities.

From January to August house pieces in regional NSW grew by 15.5% – compared to Sydney’s 22.5% rise according to CoreLogic’s Data.

Queensland saw similar results with house prices rising 15.6% regionally, and 16.8% in Brisbane.

In South Australia, regional houses grew 9.8% compared to Adelaide’s 14.4% gain.

Victoria bucked the trend, with Melbourne recording a slightly lower growth rate of 14.9% compared to the 15.9% growth in regional Victoria.

Since the end of January, house values across the combined capitals have risen by 16.8% higher while regional house values were up by 14.7%.

Where regional growth has slowed the most include Warrnambool, Victoria – where house price gains had slowed by 6% to 3.7% in the three months to August – and Shepparton, Victoria – which slowed 5.5% to 2.4% during the same period.

NSW saw its central coast region drop by 4.3% to 7.1% – still a robust growth rate.

Before easing trends emerged, regional house values had recorded consistently higher rates of capital gain than the capitals since April 2020.

A sanctuary of modern design and craftsmanship, this stunning north-facing family home in Dover Heights sets a new benchmark for luxury coastal living. Perched on a sun-drenched 563sqm block, the newly renovated residence combines elegance with functionality, making it the ultimate entertainer’s retreat.

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Raine and Horne Double Bay

Australian Regional Home Demand Depletes

Data suggests the want for a pandemic-fuelled change of scenery is diminishing.

This renovated Hampton-style home offers luxury living and seamless indoor-outdoor entertaining in a prime coastal location.