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Young, NSW 2594 Review
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InvestAus
Young
It’s common for young, regional Australians to pack up and move into the capital cities for education and work. But there’s an increasing shift the other way — particularly for Sydney millennials.
In the last Census period of 2011-2016, nearly 37, 000 millennials (aged 20-35) left Sydney to live in regional areas around Australia. In reverse, approximately 32, 500 moved in, leaving a net outflow from Sydney of approximately 4, 500 people. “In terms of Newcastle and surrounds, you’ve got a great lifestyle, you’ve got beaches, if you want to move inland, you’ve got the wineries, ” says Kusher. “The big advantage is that the cost of housing is much more affordable relative to what you pay in Sydney.” With property prices so high in Sydney, Kusher says millennials can take advantage of the fact that homes in the Hunter are around 38 percent less expensive.
“You’re typically going to be paying more than a million dollars for a house in Sydney, and you’re looking at just under $650, 000 for a typical house in Newcastle or Lake Macquarie, ” he says. Continue reading at: x
Sydney Millennials Drawn to the Hunter by Lifestyl...
The lure building a dream home is just one of the reasons young Syndeysiders are increasingly keen on the Hunter region of NSW.
www.realestate.com.au
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41 Views
4Mo ago
John
Young
Close to two-thirds of young first-home buyers are considering buying a home in regional areas, according to ME Bank's latest property sentiment report.
The new remote and flexible working arrangements due to the COVID-19 outbreak have influenced the sentiments of Australians towards buying in regional areas, said Andrew Bartolo, general manager for home loans at ME Bank. The report showed that 82% of first-home buyers are hoping to get more affordable deals as the economy moderates. In fact, over half of these first-time buyers are planning to break into the market in the next 12 months.
'First home buyers may be looking to find a silver lining in the current economic climate, thanks to greater potential for property price falls, record low interest rates and government support, ' Bartolo said.
However, Bartolo said the prospects of buying a home are more realistic with those homebuyers whose finances remained intact amid the pandemic. Get details at: x
Regional demand slated to rise
First-home buyers are eager to take advantage of housing grants to break into the market
www.yourinvestmentpropertymag.com.au
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61 Views
6Mo ago
InvestAus
Young
According to the latest quarterly property sentiment report from ME, young first home buyers are looking far and wide for COVID-19 bargains.
More than 80 per cent of them (82 per cent) have agreed they hope to see bargain properties coming on to the market if the economy worsens, with more than half of first home buyers expressing an intention to jump on to the property ladder within the next 12 months. For Andrew Bartolo, ME’s general manager home loans, first home buyers are “looking to find a silver lining in the current economic climate”.
He acknowledged a greater potential for property price falls, record-low interest rates and the abundance of government support, including the new HomeBuilder grants. Two-thirds of would-be buyers (60 per cent) indicated they would be more likely to consider buying in a regional area during COVID-19, both to save money and improve their lifestyle.
“New remote and flexible working arrangements brought in to accommodate for COVID-19 have clearly influenced Australians’ sentiment towards buying in regional areas, ” Mr Bartolo offered. Source: x
4 in 5 first home buyers out looking for bargains
First home buyers are extremely optimistic about their property prospects despite the pandemic, with many aspiring to use the downturn to their advantage.
www.smartpropertyinvestment.com.au
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51 Views
6Mo ago
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