Rise of Property Values in Secondary Cities Outpaces Capital Cities in Australia

Over the past five years, secondary cities in Australia, such as Gold Coast, Geelong, and Newcastle, have witnessed a remarkable surge in property values, outstripping those of capital cities. This trend reflects several factors contributing to the growing appeal of regional centers.

One significant driver is the increasing ability to work remotely, which has made regional living a viable option for many. With the flexibility to work from home, individuals are drawn to the prospect of larger living spaces and more affordable housing available outside of capital cities.

The data underscores the significant growth in property values across secondary cities, with notable exceptions like Mount Gambier in South Australia. Affordability remains a key factor, with areas like Newcastle, Gold Coast, and Geelong offering attractive housing options compared to their capital counterparts.

This shift away from capital cities is viewed as a positive trend, promoting a healthier distribution of population across regional centers. It not only addresses affordability concerns but also contributes to the overall development and prosperity of secondary cities.

As the trend continues, it signals an evolving landscape in Australia’s property market, where secondary cities emerge as vibrant hubs for both living and investment opportunities.

Article Title: Australia’s secondary cities outpace capitals for property growth over past five years
Retrieved from abc.net.au
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