Record low interest rates and government housing support have intensified fierce buyer competition for limited inventories. The supply of real estate for sale is currently on the rise, but inventories available are still well below pre-pandemic levels, especially in rural areas.
The blockade of COVID-19 and the adoption of remote work have triggered unprecedented practices in the region, resulting in a surge in demand for more properties outside the city.
The rapid increase in properties in the region has helped reduce the total number of available lists.
A closer look at the view by list is one indicator of what the properties of demand are, with demand increasing by more than 60% in the five states (all except NT and WA). I understand.
In Regional NSW, views per list have increased significantly by 90% over the past 12 months compared to the previous year.
On the other hand, supply has not followed the same upward trend.
To determine which suburbs were most affected by this trend, we looked at the suburbs with the largest declines in properties for sale at realestate.com.au from pre-crisis to the present.
In Beachport, a small coastal town between Adelaide and Melbourne, the number of properties listed has decreased by 86%. This is the largest in the suburbs of the area.
The rural suburbs of Queensland make up the majority of the top ten, with the lowest number of properties for sale in the last two years. ABS data show that there was a strong transition from Sydney and Melbourne to Queensland.
This clearly shows that people are looking for lifestyle changes and more affordable homes.
Beachport, South Australia, saw the largest decline in properties listed.Photo: Getty
Hideaway Bay in the Whitsunday region, the Cotswold Hills near Toowoomba, and Bookca near Bundaberg saw the largest decline in available housing supply.
More insights from a team of PropTrack experts:
The decline in listings over the last two years indicates how much demand there is for living in these areas.
Demand for real estate in the region will continue to be strong in 2022, and people are expected to continue to seek changes in the sea and trees. But when the city regains its composure and people return to their offices, they may return to the city.
This may provide some relief to local buyers and may already show signs, such as an increase in the number of new listings in February.