Regional Areas Outgrow Capital Cities in Property Real-Estate content

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New figures show that rural areas are seeing higher demand and strong price growth in property real-estate prices than growth in Sydney and Melbourne.

The latest Bendigo Bank/REIA Real Estate Market Facts Report indicates that a number of regional areas saw house prices soar 15% or more in the last quarter.

Bendigo and Adelaide Bank’s executive for retail Dennis Bice said housing growth has been strong in parts of Australia outside of capital cities.

Regional Queensland has excellent opportunities for Property Real-Estate investors and also Cities such as Newcastle and Wollongong in NSW are being re-discovered, and with good reason, contributing to higher demand and strong price growth. Compared to the September quarter of 2012, apartments in these centres recorded 16.5% and 13.1% respectively.

“It’s a similar story in Geelong which recorded house price increases of more than 15% compared with last year.  In Bendigo, apartments recorded 11.3% growth for the quarter and in Cairns, apartments recorded a 10% increase," Bice said.

In other regional areas, such as South Australia’s Riverland, house prices went up 15%. In Mandurah, WA, apartment values grew 13%.

The weighted average median capital city house price in Australia for the September Quarter is now $562,503 after growing 3% over the September quarter.  Apartments now average $460,315 an increase of 2.2% over the same period. 

The big mover is Queensland where Property Real-Estate value is excellent and the environment is very attractive to all sectors of the Australian and International communities. Young families, Baby Boomers, Gen-Y, Retirees all agree Queensland is the place to be, and they are moving to the sunshine state in large numbers to take advantage of it.

Regional Queensland has excellent opportunities firstly because of the price point to which Property Real-Estate investors can enter the market, and also the rental return opportunities are also lucrative with strong demand also being placed on the rental sector.