A change of scenery
For years, packing up and moving closer to the coast or the country seems to have been the long-awaited dream for retirees. However, recent data trends show a shift to coastal and regional areas or 'lifestyle locations' is increasingly being made by young families.
CoreLogic RP Data analysis of ABS data suggests that this trend is also having the effect of increasing property prices in many of these areas. Over recent years, growth in these areas has underperformed.
This trend may be propelled by young families struggling with housing affordability in bigger cities. Or, many may be cashing in on recent house price growth and using this new equity to purchase properties in lifestyle areas where they may get more 'bang for their buck'.
For many, easy access to the beach or peaceful country surroundings, a lack of standstill city traffic and a more intimate community atmosphere may be the bonuses that come along with greater affordability in 'lifestyle' markets, compared to capital cities.
Alongside these benefits, many coastal and regional city centres can provide reasonable access to large cities. For example, the Central Coast region in New South Wales is only located around one to two hours from Sydney city and is accessible via public transport. Choosing to move further away from urban centres need not mean total isolation, in pursuit of a lifestyle change.
If a change of scenery is what you are looking for, consider speaking to your local Century 21 office and a referral could be made to a relevant Century 21 agent operating in your ideal lifestyle area.