As a result of COVID, and the uncertainty and stress caused by urban lockdowns, many families and couples are now contemplating a move away from Australia’s larger cities. The fact that people are increasingly able to work remotely rather than commute to an office is another contributing factor to this shift. People are seizing this newfound flexibility and taking up the opportunity to relocate to a more affordable, lifestyle-friendly location, something the government is keen to encourage.
To attract new residents to Mount Gambier and other appealing regional areas, the Australian government recently launched its ‘Move to More’ campaign. Aimed at city dwellers, the aim is to encourage people located in east coast capitals to consider a ‘tree change’ and a move to a regional location.
So what does this mean for Mount Gambier property owners and investors? Essentially, If you are thinking of selling your home, now is a great time. And if you’re a property investor looking to release some equity from your investment portfolio, it’s also the ideal time to test the market as first-home buyers snap up former rentals.
While the locals already know about the town’s unique natural surroundings, modern dining venues, world-class produce, beautiful heritage buildings and convenient location between Adelaide and Melbourne, many Australians are unaware of this hidden gem. But a demographic shift is taking place nonetheless, and if you are thinking of selling your Mount Gambier home now might be the perfect time.
Why will people choose to live and work in Mount Gambier?
The industries current seeking employees in Mount Gambier include retail, childcare, healthcare and social work. Advertised roles request tradespeople, administrators, forklift operators, managers and accountants. And with more young families come more opportunities for businesses.
With house prices being well below the national average, families have the opportunity to purchase a spacious home, or even an acreage, without losing too much of their income to mortgage payments. In fact, Mount Gambier is well overdue for a property boom and it is only a matter of time until this is picked up on by the rest of the country.
For families looking to stay for the long term, there are several primary and secondary schools to choose from and even university campuses in Mount Gambier, as shared on the Move to More website.
As shared on the website Homely, “Mount Gambier has most major outlets while maintaining the feel of a country town. Suburbia can be driven from end to end in 10 minutes, before switching to rural living. (Mount Gambier has) all the comforts you want, with the attractive rural backdrop.”
Other reviewers describe the town as the perfect place to bring up a family and a “lovely country area”, pointing to its good healthcare services and suitability for retirees.
What are buyers looking for?
With Mount Gambier being highlighted as a potential destination for exhausted city-dwellers who want to escape the endless cycle of lockdowns, we are now seeing increased interest from buyers and investors.
Older homes present the opportunity to upgrade and capitalise while many new residents will be seeking move-in-ready homes in newer parts of the city.
As recently highlighted by the National Australia Bank, buying is currently cheaper than renting in Mount Gambier. The good news is also that the market has not been dampened by COVID and some houses are selling in as little as 48 hours. For property investors, yield is strong and is expected to remain that way for some time.
If you are a property owner in the area, keep your eye on the market over the next few months and feel free to talk to us about whether the time is right to sell your home. You may wish to upgrade or even consider investing to expand your property portfolio and take advantage of increased interest in Mount Gambier and the wonderful lifestyle on offer here.