A new real estate outlook report announces that housing markets in those places will prosper in the near future.
The report outlines the main factors that attract buyers to (regional centres), the centres of the developed regions, and reveals that persuading buyers to move to these areas depends on more than just easy commutes.
The report said that the main factor driving people to move to a sub-developed region is usually economic growth and the resulting employment opportunities.
The report also summarizes where property sales will boom, thanks in large part to rising demand.
The report is based on REA Group`s housing demand data and its analysis by Nerida Konicby (Nerida Conisbee), chief economist.
House prices across Australia have risen 6.3% this year, she said. However, in the past quarter, as prices across the country fell, housing demand continued to weaken and growth slowed significantly.
Some areas that are expected to see a housing boom include Bararet (Ballarat), 116 kilometers from Melbourne, with a population of one hundred thousand nine hundred and ninety nine, and house prices half the size of Melbourne`s.
Of all the regions listed in the report, Bararet`s property demand grew the most, rising 62.1 percent last year. Some districts in Bararet are in higher demand than others, and inner-city properties are the most sought-after.
(Orange), a new state town of Orlanch, is 257km from Sydney, where real estate demand is also strong, surging 40 percent last year, compared with a 20 percent increase in demand in Sydney.
Home prices in McKay (Mackay), are up 10 percent, and demand for property in the heart of the tropics is growing, 952 kilometers from Brisbane.
Health, tourism, agriculture, education and mining are all important drivers of McKay`s economic growth, which in turn leads to more demand for real estate.
The median price of real estate in the McKay area is only three hundred and thirty thousand yuan.
In addition to Hobart`s highest demand for real estate in all parts of the state, with five of the top 10 hotspots in the city, Langsston (Launceston) is now joining the housing boom.
Last year, house prices rose 18.9% in Langston and demand jumped 37.1%.
Job growth in the region has also had a positive impact on property prices and demand, which the report cited as the main reason for attracting new buyers to the region.
