Mackay listed in ‘Top 10’ for metropolitan ‘exodus’
MACKAY has been listed in the top 10 locations for people flocking to regional areas from the cities in search of an affordable lifestyle.
Leading property expert Terry Ryder, from hotspotting.com.au, said the "exodus" was Australia's number one real estate trend with no signs of slowing.
He said COVID-19's "lockdown phase" had proved to people they could work effectively from home.
"Zoom or Skype meetings, a quiet room and a reasonable internet connection are all many need to get their job done," Mr Ryder said.
"It doesn't really matter if that quiet room is the suburbs or a couple of hundred kilometres away in an affordable regional city."
Mr Ryder said regional towns offered more relaxed lifestyles, lower mortgages and better returns for investors.
And compared to overall regional Australia, he said Mackay had experienced double-digit annual price growth with vacancy rates in most postcodes falling to less than 1 per cent.
"Property owners can sell up in a capital city and buy something of the same standard in a regional or lifestyle area for half the price - and either significantly reduce their mortgage or find themselves mortgage free with money left over," Mr Ryder said.
"That's a very appealing proposition particularly for young people starting out who are looking for a realistic way to enter the property market."
"The exodus to an affordable lifestyle has been quietly gathering pace for several years now and while the pandemic might not have started it, it certainly has helped drive one of the biggest trends in Australian real estate to new levels.
"The more government pours money into improving transport connections to regional towns, the more this trend will take hold and the big infrastructure spend evident in the Federal Budget provides evidence there is plenty more of this to come."
Mr Ryder said the Mackay market had been boosted by $30 billion of infrastructure projects in the broader region and the recovery of the resources sector.
Share your thoughts on this trend through a letter to the editor: