Affordability is a huge incentive for regional migration as families reassess their lifestyle options according to John McGrath, founder of McGrath Estate Agents.
Mr McGrath said, "COVID has definitely accelerated the ability to work remotely and areas within a two-hour radius of large towns and cities I believe will be very much sought after, particularly as a commute has never been easier with new infrastructure that connects the modern worker more readily and easily."
A good example of this, is in Cooma NSW, where McGrath Estate Agents have recently opened a new office.
Cooma is now at the centre of Australia's largest engineering project, the Snowy Mountains Hydro Electricity Scheme. The Shire is also the gateway to the Snowy Mountains, Kosciuszko National Park and close to Canberra.
Christopher Mourd, Head of Franchise Network for McGrath Estate Agents said, "We see real growth and opportunity in these key regional areas as they have outperformed their capital city counterparts through COVID." (source: CoreLogic July 2020).
Shannon Fergusson, principal of McGrath Cooma says the market around the Snowy Mountains is performing strongly.
"We are seeing strong investor demand, who recognise the opportunities before the Snowy 2.0 Hydro projects ramps up.
"Since the onset of COVID-19, we have experienced a large number of enquiries from both Sydney and Canberra not only for investment opportunities, but also for lifestyle requirements. This includes weekenders and those wishing a tree-change where they can work remotely."