Figures show the biggest changes in values for houses and units in regional areas since the pandemic hit.
abc.net.au/news/covid-19-stirred-a-flock-to-the-regions-data-shows-region-growth/101812670The regional housing boom is beginning to slow in hotspots across New South Wales and Queensland after record-breaking rises during the pandemic.While a "regional renaissance" saw strong population growth over the past two years, demand has slowed as interest rates have risen.
Combined regional housing prices soared by an average 41.6 per cent after COVID-19 hit , and they’ve since dropped 5.7 per cent since peaking in June.But some regional markets are dealing with much higher house price growth than the national average. In March 2020, the top 20 house markets that would go on to have the greatest uplift in value started with an average median of around $306,000.For the top 20 performing unit markets, the average median was closer to $392,000, and now has an average of $618,500.Lifestyle regions still the stand-outs
"It emphasised the importance of the home and its surrounding community, as well as the ability to work, live and play within a short distance of where we reside."