Property Market Update Q4 2020 – Part 2
Want to see change? Try a tree change
We are seeing many more people interested in relocating away from major metropolitan areas (especially Melbourne!).
They are leaving cities and relocating to sunnier locations, up the coast or inland, because they have been working a job where they get on a train at 7am, get to their job, sit at a desk for hours and then at the end of the day get up and go back home.
They get home at 7pm, hardly see the kids and get two days off at the weekend.
That’s not a lifestyle many people want. COVID and remote working have shown them they can find a better lifestyle.
For some that means moving interstate and as a result we are seeing a lot of activity in coastal and regional towns.
We’ve personally been acquiring property deals anywhere from southeast Queensland, up to the Sunshine Coast and beyond.
Further north you can pick up a five-year-old house, two streets back from the water for $250 to 300,000, in a cool coastal town.
So, there is a treechange and seachange trend.
Maybe we’ll see the fall of the inner city unit markets in congested areas, in favour of a new lifestyle, where people will fill hubs across coastal areas and have work life balances with houses boasting home offices.
Living on the land
We’ve been picking up landholdings lately.
We’re land banking blocks of 5, 10, 20, 100 and even 500 acres.
The agents are telling us they are experiencing unprecedented numbers of people wanting to have land to grow trees, farm cattle and grow their own produce.
In those areas, anything under the $300,000 mark is going fast.
Affordable properties that were cheaper than that not long ago have risen in price and $300,000 is the new floor.
A lot of these people are moving for lifestyle. They don’t want to be in the city, don’t want to be caught up in coronavirus, or they want to get out there and grow their own food. This may only be the beginning.
If you want to talk about your own strategy or any of the things we have covered here, feel free to reach out to myself and my team.