Naritas Finance
Daily Bulletin

Real Estate

Families are deserting Australia’s biggest capital cities of Sydney and Melbourne

  • Written by Adam Santarossa

Go West for the lifestyle worth living

 

More and more families are deserting Australia’s biggest capital cities of Sydney and Melbourne, frustrated with housing affordability and lifestyle issues.

 

These deserters are reaching record numbers, with thousands each month choosing to start a new life elsewhere having become sick of the financial strain of living in the Eastern states. 

 

While many of these families are choosing Queensland as their new home, there is another sunshine state that is worth considering.

 

Leading housing expert and Managing Director of Gemmill Homes, Craig Gemmill, says families should look to Western Australia to maximise financial gains earned in the Eastern states, given the incredible value on offer.

 

But anyone thinking of taking the opportunity must act fast.

 

Otherwise, families may lose the wins made in the once strong Eastern Real Estate markets.

 

“The median house price in Western Australia is back to where it was 13 years ago,” Mr Gemmill explained.

 

“You will not see these prices again. The median house price in Sydney and Perth, six years ago, was on par. Sydney has doubled in price since then.

 

“My advice to those living in the Eastern states is, when you have made a bit of money – get out. Don’t wait over there for the market to keep dropping, cash out now.

 

“When you’re on a roll, people want to see if they can increase their money, but when you’ve had your win, that’s the time to get out. Don’t be left with nothing.”

 

Figures released by the Australian Bureau of Statistics show that last year NSW suffered its biggest population loss since 2008 (down 22,113) .Victoria also saw its lowest migration number since 2015 (down 13,985). Consequently, Western Australia saw its highest level of influx from both states since 2014 (up almost 15,000).

 

Gemmill says thousands are looking to remove themselves from the financial burden that comes with living in the Eastern states.

 

Not only do Western Australian prices ensure they can do that, but the state also brings unique lifestyle factors appealing to families.

 

WA has recently seen millions spent on new infrastructure projects, including Optus Stadium, road and rail networks.

 

“There’s an overwhelming response of people looking at a new start, and Western Australia offers so much,” Mr Gemmill said. 

 

“Western Australia provides you so many options as well. There are established homes to buy, or you can build your dream home, or you can simply invest.

 

“It’s become abundantly clear that you can demolish and build in Western Australia cheaper than you can in the eastern States, in suburbs that are closet to all amenities, including the fantastic beaches.

 

“These older houses are ripe for demolition and are basically at land value now and even cheaper than some of the outer greenfield areas.

 

“We see it as the perfect opportunity for people to come over, take their money out of the Eastern states, where they’ve made money and put it in over here.

 

“Don’t be stuck in the traffic, or in a mortgage you can’t seem to get on top of. Western Australian provides real answers, and a lifestyle the family will love.”

 

Craig Gemmill will be speaking about the opportunities that exist in the Western Australian property market at the Melbourne Home Show from May 1-5 at the Melbourne Convention and Exhibition Centre.

 

Further information on Gemmill Homes - https://gemmill.com.au/

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