Invest
10 small Aussie towns with big property price growth
COVID-19 has altered the dynamics of real estate, putting the spotlight on regional towns as more people look to swap the city rush with the laidback regional lifestyle.
10 small Aussie towns with big property price growth
COVID-19 has altered the dynamics of real estate, putting the spotlight on regional towns as more people look to swap the city rush with the laidback regional lifestyle.
The rising interest in Aussie regions has been touted as one of the biggest positives to come out of the pandemic, as migrating city folk drive job creation and economic growth in towns less favoured a year ago.
According to REA Group chief economist Nerida Conisbee, interest in regional towns is not only being witnessed in the bigger, more established areas, but it’s rapidly rising in the smaller towns with fewer than 1,000 residents.
This is due to an increasing demand for bigger spaces as people are forced to spend more time at home.
But with overseas travel still off the cards for the foreseeable future, and frequently closed state borders, people are also increasingly cashing out on a second home.
Looking at the data, Victoria’s small towns have proven the most popular, with this state boasting four of the top 10 fastest-growing small towns. Queensland and NSW with two small towns each.
Among Australia’s fastest-growing small towns over the last 12 months to December 2020 were:
1. Cape Paterson, Vic | Median: $625,000, Growth: 17.9 per cent
2. Charlemont, Vic | Median, $533,500, Growth: 14.7per cent
3. Callala Beach, NSW | Median: $730,500, Growth: 14.1 per cent
4. Rosebery, Tas | Median: $96,500, Growth: 12.2 per cent
5. Dundee Beach, NT | Median: $230,000, Growth: 12.2 per cent
6. Dundowran, Qld | Median: $455,000, Growth: 11.5 per cent
7. Taroomball, Qld | Median: $460,000, Growth: 11.0 per cent
8. Ventnor, Vic | Median: $585,000, Growth: 10.4 per cent
9. Renwick, NSW | Median: $815,500, Growth: 10.2 per cent
10. Venus Bay, Vic | Median: $360,000, Growth: 9.3 per cent
Moving on to 2021, Ms Conisbee said the regional house price growth will continue, with the beachside suburbs – such as Cape Paterson, Ventnor and Venus Bay – garnering the strongest demand. The mining sector is also tipped to become “one of the major determinants of regional price growth”, particularly in Rosebury, where the median price has risen 12.2 per cent over the past 12 months.
RELATED ARTICLES
Property
North platform adds household reporting feature to boost adviser efficiency
AMP's North platform has launched consolidated household reporting across multiple client accounts, helping financial advisers streamline their client review processes. Read more
Property
What Adds The Most Value To Properties?
Wondering how to up the value of your property? Properties are worth a lot of money in general, but there’s always a way to maximise value. The good news is that most of the things you can do to ...Read more
Property
Centuria reports strong growth in alternative real estate sectors for FY24
Centuria Capital Group has reported significant growth in alternative real estate sectors for the 2024 financial year, driving stable performance and increased guidance for FY25. Read more
Property
How to leverage equity in your home for investment or renovation
Home equity, the value of your property minus any debts owed, is a powerful financial resource many homeowners in Australia can utilize to further their financial goals. Whether you're looking to ...Read more
Property
Exploring REITs: Real estate investment without buying property
Real Estate Investment Trusts (REITs) offer a compelling investment alternative for those interested in the real estate market but may not want to endure the complexities and capital requirements of ...Read more
Property
Retirement communities: a pivotal element in meeting Australia's housing targets
The Retirement Living Council (RLC) has recommended that retirement communities should be considered a vital part in the Australian Government's initiative to fulfill the Housing Australia Future Fund ...Read more
Property
Australians adjust financial strategies amid changing property market dynamics
The 2023 calendar year saw Australian borrowers acquiring a total of $300.9 billion in new loans for property purchases, marking a 12.7% decrease from the previous year. Read more
Property
Split home loans unlocking doors for Aussie buyers
Australians are teaming up to dive into the real estate market and seize the advantages of home ownership, with the trend of split home loans surging as family and friends unite to buy properties ...Read more
Property
North platform adds household reporting feature to boost adviser efficiency
AMP's North platform has launched consolidated household reporting across multiple client accounts, helping financial advisers streamline their client review processes. Read more
Property
What Adds The Most Value To Properties?
Wondering how to up the value of your property? Properties are worth a lot of money in general, but there’s always a way to maximise value. The good news is that most of the things you can do to ...Read more
Property
Centuria reports strong growth in alternative real estate sectors for FY24
Centuria Capital Group has reported significant growth in alternative real estate sectors for the 2024 financial year, driving stable performance and increased guidance for FY25. Read more
Property
How to leverage equity in your home for investment or renovation
Home equity, the value of your property minus any debts owed, is a powerful financial resource many homeowners in Australia can utilize to further their financial goals. Whether you're looking to ...Read more
Property
Exploring REITs: Real estate investment without buying property
Real Estate Investment Trusts (REITs) offer a compelling investment alternative for those interested in the real estate market but may not want to endure the complexities and capital requirements of ...Read more
Property
Retirement communities: a pivotal element in meeting Australia's housing targets
The Retirement Living Council (RLC) has recommended that retirement communities should be considered a vital part in the Australian Government's initiative to fulfill the Housing Australia Future Fund ...Read more
Property
Australians adjust financial strategies amid changing property market dynamics
The 2023 calendar year saw Australian borrowers acquiring a total of $300.9 billion in new loans for property purchases, marking a 12.7% decrease from the previous year. Read more
Property
Split home loans unlocking doors for Aussie buyers
Australians are teaming up to dive into the real estate market and seize the advantages of home ownership, with the trend of split home loans surging as family and friends unite to buy properties ...Read more
