The suburbs where the pandemic sparked a population boom

 Record-low interest rates led to a population boom in first home buyer strongholds, as people moved out of shared housing and into affordable neighbourhoods during the COVID-19 pandemic.

The pandemic was also a shot in the arm for sea and tree change areas, whose populations increased by thousands over the three years between December 2019 and December 2022, a KPMG analysis has shown.

The Wyndham region in Melbourne’s west, which includes the popular first-time buyer suburbs of Werribee and Hoppers Crossing, topped the list for population growth by region, after 34,500 moved there over three years.

It was closely followed by Blacktown-North, a statistical region of Western Sydney, where 30,100 more people relocated.

Read More: https://www.smh.com.au/property/news/the-suburbs-where-the-pandemic-sparked-a-population-boom-20230118-p5cdgx.html



Comments

Post a Comment

Popular posts from this blog

The Future of Retail Space In Australia Commercial Property Market

Image
 Hey people, I have been working in the retail industry for years. The sector used to be a thriving part of the Australian economy until we had to suffer the COVID-19 pandemic impact. It was much worse for retail than industrial and office commercial properties. Many small businesses closed and others had to rely on government’s help to remain in business. However, we managed to pull out of the dark times and are now looking at the silver lining. We have now our own ecommerce store and are building AI capabilities in the store to make it more immersive for in-store customers. Here is an article that will help you understand this better. https://www.commercialproperty2sell.com.au/blog/2023/04/the-future-of-retail-space-in-australias-comm.php
Read more

The neighbourhoods where property prices are still higher than a year ago

Image
 Affordable outer suburbs are proving more resilient than pricier inner neighbourhoods amid the property market downturn, new figures show. Months of price declines in Sydney and Melbourne have left median values lower than they were a year ago, but values in a string of middle and outer ring regions are still up year-on-year – as demand continues for comparatively more affordable homes. Pockets of Sydney’s west had the highest growth over the 12 months to August, CoreLogic figures show, while Melbourne’s west and south-east recorded some of the city’s highest annual growth, along with the recovering inner-city market. Read More: https://www.smh.com.au/property/news/the-neighbourhoods-where-property-prices-are-still-higher-than-a-year-ago-20220909-p5bgqx.html
Read more

Property investors hit by land tax change plan to sell or pass on costs to renters

Image
 Property investors affected by a change to Queensland’s land tax are considering selling out of the market or passing on the extra cost to renters, industry groups say. Anyone who owns investment property in Queensland will soon have the total value of their Australian investment land assessed for land tax purposes. The move to include interstate holdings will start from June 30 next year, a move the state opposition branded “unworkable”. Other experts say the change would rebalance an overheated property market that favours investors over owner-occupiers and renters, while the state government has called the reform “prudent”. Read More: https://www.smh.com.au/property/news/property-investors-hit-by-land-tax-change-plan-to-sell-or-pass-on-costs-to-renters-20220912-p5bhgb.html
Read more