Demographic shift having a huge effect on property markets
- By Peter Gordon
- •
- 20 May, 2019
We have seen the demographic shift of sea-changers and tree-changers for many years now, and more recently a new trend has been emerging called E-changers.
E-changers are people moving to lifestyle locations within commuting distance to capital cities who can work from home for two or three days a week. It started with self-employed people, or well-paid CEO's, but is now shifting to everyday people who don't need to spend five days in the office. This benefits both the employer and the employee.The traditional company office is evolving to meet the demands of new business. Advances in IT technology and the need to accommodate more flexible working hours for staff has assisted employers by downsizing their offices. Capital cities are seeing more and more hot desk offices open up where large numbers of companies can share services.
In the USA it is estimated that nearly three quarters of the
workforce will be working remotely by 2020, please see the following links for
more details:
Communication Technology and Inclusion Will Shape the Future of Remote Work
Teleworking in Australia: Latest Trends and Perceptions
So how does this effect property markets and which ones will benefit the most? Luxury coastal markets are booming as well as affordable regions that have all amenities commuting distance to the capital cities.
Lifestyle locations within two hours of the capital cities are benefiting from the largest influx of new buyers. For New South Wales it is Newcastle, the Central Coast, Wollongong, Tweed Heads and Ballina. For Victoria it is Torquay, Ocean Grove, The Bellarine and Mornington Peninsula's. In Queensland it is the Gold Coast and Sunshine Coast. Lower priced in land regions are also benefiting like The Blue Mountains, Ballarat and Toowoomba. Click on the following media links to read further:
Noosa boom: Once sleepy
town now home to rich, famous
The E-Changes -
Australian entrepreneurs move to the country and the suburbs
One in three
Australian works now regularly works from home
This
demographic is not only the wealthy, but includes office workers who can work
from home who have been priced out of the capital cities. Many families
are relocating to locations where they can buy an affordable home without a
suffocating mortgage. So again, they move to lower priced locations
in commuting distance to the capital city CBD. These locations need to be
able to service everyday family needs like Shopping Centres, Schools, Hospitals
and ideally Universities.
All of our property recommendations are the result of stringent research. We only recommend areas to our clients that tick all the boxes. If you are thinking about starting your property investing journey or even if you are a seasoned investor and would like to catch up for a coffee and a chat Please contact the Investo Team - the coffee is on us!
| Quiet simply, the Palms is the place to buy! |
Sydneysiders and Melburnians, put aside your equally outstanding flat whites for a moment. Stop bickering about whether great beaches beat cool laneways (they do) and desist from debating whether all baristas require waxed moustaches (ideally).
Because Brisbane is closing in on the title of Australia’s best city, and we must join forces to keep this subtropical upstart in its place.
Time magazine recently named Brisvegas on its “World’s Greatest Places” list, and omitted our cities. It’s a huge shock (and who knew they still published Time magazine?). But they might be onto something.
Time points to the 2032 Olympic and Paralympic Games, which will be hosted in the maroon metropolis. Brisbane will do a fine job, even though it’ll baffle the world when rugby league is added to the schedule and Queensland is allowed to field its own team.
Time’s most radical claim is that Brisbane is worth visiting now, but tourism is surging. Not only did Lin-Manuel Miranda recently drop in to catch Hamilton , but hundreds of Hamilfans flew up to watch his interview with Leigh Sales (presumably unaware that it would subsequently arrive on iView for free).
A leading local agent has appraised each side of these duplex's to be worth $665k on completion and rent for $495 per week. So that is massive potentail instant equity of up to $390K on completion, which is incredibly hard to find.