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7NEWS
16-07-2025
- Business
- 7NEWS
Not going back to the city: what treechangers love about regional living
The pandemic-era 'tree change' was meant to be a temporary exercise for the Aussies keen on trading city skylines for wide open spaces, fresh air and a slower pace of life. But the common story? A more permanent transition. Nerida Lindsay and her family made the move from buzzing Bondi to the majestic mid-north coast NSW in 2020. Like many Australians at the time, they were seeking space, simplicity and a break from the pressure cooker of city living. Five years later, they're not looking back. "We live a relaxed lifestyle in an amazing community, and in paradise," says Mrs Lindsay. The current regional market outlook Cotality data reveals that since March 2020 to 2025, regional values have risen more than 56 per cent. Post pandemic boom, the regions have continued to show overall resilience. In the recent two quarters, for example, they're outperforming capital cities (1.6 per cent compared to 1.4 per cent). Many metro and regional areas are also currently experiencing record highs, according to Cotality's July Housing Chart Pack. Regional areas in Queensland (77.7 per cent), Brisbane (78.8 per cent), Perth (74.8 per cent), South Australia (61.4 per cent), and regional WA (53.6 per cent) are leading the pack. Other areas, like Victoria, still offer opportunities. Ray White Mildura Managing Director and Chairman's Elite Sales Agent Damian Portaro says regional markets went through a "consolidation phase" after the COVID surge where prices flattened out, but that activity is ramping up again - particularly among investors. "Today, the exciting news is that regionally we are experiencing an investor boom, and that would be putting it lightly, to be frank." Despite market fluctuations, interest in regional relocation continues to be driven by lifestyle migration, relative affordability and a lack of supply in metro areas. Let's look at what makes regional living so good. More house for your money Affordability is the obvious drawcard for those who've chosen a treechange. But it's about more than property prices - it's about what your money actually buys you. Moving regionally gave Mrs Lindsay, her husband and three kids access to the kind of home and lifestyle that would have been financially out of reach in Sydney. "In the area we're in, the general rule is for half the price of a place in Sydney, you get two to three times the amount of space," she says. "It's kind of crazy. Around here, for under a million you can have a four-bedroom house with a backyard, garage - even a separate studio." A similar sentiment is shared by Mr Portaro in regional Victoria. "Property prices and value for money are definitely huge considerations [for relocation]. Double the land size and 50 per cent more house is attractive and regularly commented upon by 'tree changers,'" he says. Rental prices tell a similar story When the family were living in Bondi in 2019, their rent was $800 per week for an older-style apartment. Their first rental on the NSW coast was just $425 a week for a large four-bedroom home that backed onto rainforest. Mrs Lindsay says that even when prices climbed after COVID, rent remained under $700 per week in the area - significantly less than what you'd pay for a comparable property in any Australian capital, as rent prices skyrocketed in metro areas during the same period. Cost of living: 'We cut our expenses in half' It's not just the housing market that feels more accessible. Depending on the region, overall cost of living can also drop dramatically. "I'm quite sure we cut our expenses in half," Mrs Lindsay says. "We don't do takeaway at all anymore, we cook every meal. We still need daycare, but it's much cheaper, and we don't really have to pay for activities." "It's other little things, too: you don't have to pay for parking here or worry about how long you've left the car somewhere," she says. Speaking of cars, they turned out to be an unexpected hit to the hip pocket. "The only thing that brings up costs is the cars, because living regionally, a family has to have two cars," says Mrs Lindsay. "Petrol and car maintenance is very expensive, plus we have to pay double loan insurance and green slip and all of that, so that's a big hit that you wouldn't have in Sydney." A stronger sense of community For Mrs Lindsay and her family, regional life offers the kind of community connection that's harder to come by in the city. "You truly feel that you're living in a community," she says. "When we go to the markets, we don't have to stress or worry about where our kids are. Everyone knows your kids; everybody knows everyone. "And while everyone isn't necessarily friends, if you need something, someone will always put their hand up to help. It's an amazing way to live and a great way for kids to grow up." As if on cue, one of the couple's children interrupts the interview to ask when they are heading down to the beach for a sunset bonfire with friends. Mrs Peters says this is a perfect example of a regular, relaxed way the family connects with their community. Time over hustle While the city might offer more choice when it comes to schools, specialists and extracurricular activities, regional life offers something many parents value more: time. "The kids might not have as much access to certain facilities and things that you would have in the city, but we are able to spend more time with them - to help do their homework, attend every assembly, help them with things that they need, or spend lots of time out in nature with them," says Mrs Peters. "If we lived in the city, I would have to work full-time and we'd both be working really long hours. The kids would be in before-school care, after-school care, and while that's fine, it's not what I personally wanted." Regional living has allowed them to build a lifestyle that aligns with their values, albeit with some compromises. Compromises and hurdles What do you lose when you leave the city? For this family, it's mostly about food. "Food, restaurants - we 100 per cent miss. Our area is not the best for restaurants, which is very sad," says Mrs Peters. They've also had to be intentional about staying connected with friends. But the payoff is deeper quality time with the people who matter. "When people visit, they stay with us and we really hang out," says Mrs Peters. "Last weekend I had two old friends come up with their kids - three mums and seven kids - and we had three days together. It was awesome." Another major hurdle can be work. Mrs Peters says that it can be tricky finding suitable jobs or fully remote work, so moving regionally may only be viable for some. In their case, Mr Peters runs a business that allows them to work remotely, circumstances they're aware aren't possible for everyone. Keen for a change? Consider this first "We do often find people need more than one reason to move, like family, work, sport. We are not just one suburb away," says Mr Portaro. "But once here, they stay. Our weather, community at large and lifestyle are appealing to those that have been caught up in the metro pace (and traffic!)". He advocates for renting as a way to get to know a location before making your final decision. "Often renting first to understand the geographic is ideal," Mr Portaro says. "Where you want to live in metro areas might be determined by suburb, but regionally, it can be by small pockets or even streets. Move two streets over and it can feel completely different." Mrs Peters recommends clarifying your values and priorities. "What are the things that are most important to you at this point in life? Then you can set your life up a certain way to support those values. For us, choosing to leave the city was the path to realising that vision," she says.
The Guardian
08-04-2025
- Business
- The Guardian
Australia's median home value has increased by about $230,000 in past five years, data shows
Australia's national home values have surged 39.1% over the past five years, meaning the median dwelling value has increased by about $230,000, according to new CoreLogic data. House prices jumped 39.1% in the five years to March 2025, according to CoreLogic's April Housing Chart Pack. Meanwhile, the price of an average home has grown from 4.6 times the median income in 2001, to 6.5 in 2020, before hitting a record high of 8.0 at the end of last year. Although the increase seen over the past five years is relatively mild in percentage terms compared to the historic peaks recorded in the early 2000s and late 1980s, the recent rise is far higher in dollar terms, according to Kaytlin Ezzy, a CoreLogic economist. 'While around half the increases seen during the previous peaks, when adjusted to the current median value, the rise seen over the past five years is equivalent to a roughly $230,000 increase,' she said. 'By comparison, the dollar rise seen over the five years to December 2003 was roughly $90,000 less, at $140,000, while the March 1989 increase was equivalent to around a $60,000 increase in the median.' Sign up for the Afternoon Update: Election 2025 email newsletter CoreLogic's research director, Tim Lawless, said housing affordability had continued to hit new peaks. 'Other measures of housing affordability are also at a record high, including serviceability metrics, the number of years it takes to save a 20% deposit, and how much income is required to pay rent,' he said. 'In simple terms, housing values have risen a lot faster than incomes. 'The factors behind the rapid growth in values come back to underlying demand/supply imbalances as well as a long-term trend towards lower interest rates and household debt accrual.' Sydney is the most unaffordable capital city housing market, with a ratio of housing values to incomes hitting 9.8, followed by Adelaide, with a ratio of 9. Sign up to Afternoon Update: Election 2025 Our Australian afternoon update breaks down the key election campaign stories of the day, telling you what's happening and why it matters after newsletter promotion Regional New South Wales is the third most unaffordable market with a ratio of 8.9, followed by Brisbane at 8.2. At the other end of the scale is Darwin, with a dwelling value to income ratio of just 3.9 – a reflection of relatively low values and high incomes. Ezzy said the 39.1% growth in values seen over the past five years reflected strong underlying housing demand, tight supply and a relatively resilient economy. 'Outside of a few short months of declines, values have seen strong upward pressure over the past five years, driven by low stock levels and increased demand,' Ezzy said. 'But this growth cycle remains moderate compared to earlier periods, when financial deregulation, strong economic growth and favourable demographic shifts helped fuel remarkable value growth.'
