Citys = overvalued
Regional = undervalued
Supply and demand - restrictions on construction and supply of materials due to covid played a huge role in a supply shortfall on new construction and renovations for almost 2 years, this includes tafe disruption for new trades.
City petry dish - Sydney, Melbourne and Brisbane saw big market prices and strickt lockdowns, rural areas have now benefit from this. With immigration directed to regional settings and city folk wanting a cheaper home in a less restrictive environment the regional settings are becoming more evenly valuated and attractive.
In summary - Not enough houses, high demand, tree change, immigration and city life during a pandemic.... people are adjusting.
My house has seen 30-40% growth in 2 years and only 4-6% pa prior to that. It's in regional Southern NSW. Keep moving from the Citys everyone
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- Real estate agents: Sell now before “buyer’s paradise” arrives
Real estate agents: Sell now before “buyer’s paradise” arrives, page-75
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