Since the outbreak of the COVID-19 pandemic, migration rates to regions, especially to more affordable states, have accelerated. This allows homes to be soldered much faster in these pockets than in Australia’s largest capital.
Queensland, Western Australia and South Australia are all experiencing population growth each year, according to data from the Australian Bureau of Statistics.
Net interstate migration also contributes to this growth in all three states.
These interstate moves have prompted increased demand for housing in these states from potential homeowners and investors seeking to profit from the highly competitive rental market.
Similar trends are evident in New South Wales and Victoria, where people are moving from the capital in search of more affordable homes.
There was a strong migration within the state to New South Wales in search of more affordable housing.Photo: Getty
This strong demand makes it a competitive condition for potential buyers in these areas.
To identify areas where homes are selling rapidly and buyers have less time to decide, look at the areas that took the least number of days to sell a property after it was posted on realestate.com.au. I did. , From February 2021 to February 2022.
Residences in the Brisbane Inner City area and the Barossa-York-Midnorth area, just north of Adelaide, saw the largest reduction in days of all SA4 areas.
The Logan-Beaudesert region near the Gold Coast, the Ipswich region near Brisbane, and the southeastern South Australia region were not too late.
For matters in the southeastern part of South Australia, the number of days on the premises has decreased significantly.Photo: Getty
Most of these SA4 regions retain an increasingly important attribute that Australians are looking for during a pandemic: affordability and environmental and lifestyle changes.
More insights from a team of PropTrack experts:
The city center of Brisbane is more expensive than the rest of the list, but still more affordable than both Sydney and Melbourne, with significant inward migration during the pandemic.
Listed homes in the Banbury region on the south coast of Western Australia also sold faster than a year ago.
Due to the ongoing transition, Queensland, SA, WA, and the regional NSW and Victoria are still in demand.
As a result, seller conditions may remain strong for at least the next few months.