Residents are being priced out of the market and are migrating to areas surrounding the Gold Coast, Tweed Coastline and Byron Shire. A lifestyle change, growing workplace opportunities, and more affordable homes are vastly contributing to the rise in Sydneysiders choosing to relocate north.
Data shows that Sydney real estate continues to climb, costing the average house roughly 8.5 times the median household income (Core Logic). What this means for the future of our region is that the demand is gaining traction compared to what it was previously. The past decade proved to be restricting corporate Sydney siders who dreamed of residing here. The practical component of facilitating work and lifestyle needed to be more present. Now, with more technology, flexible working conditions and a new ‘plug-in’ work community, the country as a whole is gaining more acceptance as the work environment changes from the traditional ‘norm.’
Without buyers, we have no real estate market, so this is why it is so imperative to observe the behaviours and changing needs that our market buyers possess to allow our listings to be seen and noticed by clients that don’t necessarily live here. With an influx of newer high-rise and up-market residential buildings with the additional migration of savvy hospitality operators, it is a no-brainer why getting out of the Sydney market and/or purchasing your primary residence between the Gold Coast to Byron Bay would be attractive to coastal lovers. From a Sydney buyer’s point of view, they can get premium stock here for a fraction of the price that remains luxury and high quality.
Sydney residents make up a large portion of buyer enquiry in our database. This tends to be from individuals or companies that see value in our market, as it still has plenty of growth to develop residential home prices. Northern New South Wales leads the country in residential interest, with 43%*of prospective interstate buyers inspecting open homes.
As Good Property Collective digitally markets to the interstate buyer, it is shown that homes generally yield higher sales when purchased from a Sydney and/ or city buyer. Sydney buyers can maximise on an era where there is still a relatively small population compared to our available land- particularly in the northern rivers. We target our digital sales campaigns directly to Sydney siders interested in our region’s real estate.