Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

Sea Change

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Two legends of Australian television, Sigrid Thornton (above) and John Howard (below), are reprising their roles as Laura Gibson and Bob Jelly in the beloved 1998 drama series, SeaChange.  
It will be on Channel Nine, not the ABC like last time.
Some twenty years on, Laura (Thornton) returns to the supposed beachside paradise of Pearl Bay.
However, it seems that this time around the script has its as Pearl Bay needing Laura just as much as she needs it.
Its original creator and head writer, Deb Cox, returns as executive producer alongside Sigrid Thornton, Fiona Eager and David Mott. 
SeaChange will commence production in 2019. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/17/howard.jpg" alt="">
“I’m absolutely thrilled to be returning to Pearl Bay. Time has passed and the world has changed, so as we revisit this rich and strange place I trust we’ll all delight in the chance to explore how far we’ve come and how far we still have to go," Sigrid Thornton said.
"I can hardly wait,” she said.
Andy Ryan, Nine’s co-head of drama, said it was two decades ago that SeaChange changed the face of Australian drama.
"Pearl Bay is still a hotbed of romance, mateship and community spirit. With plenty of fresh faces the new challenges, SeaChange is perfect family entertainment.”
SeaChange is produced by ITV and Every Cloud Productions for Nine.
Initially the comedy/drama series was made by Steve Vizard and Andrew Knight's Artist Services as a co-production with the ABC.
The 13-part series featured Thornton as Laura Gibson, a corporate lawyer who, after two decades of juggling career, marriage and motherhood, reaches a turning point when her snaky businessman husband is jailed.
She picks up her life, packs up her belongings and takes her two children to the quiet seaside town of Pearl Bay, where she accepts a job as the local magistrate.
The ferry operator and cafe proprietor Bob Jelly was played by John Howard), the progress-minded mayor. William McInnes is also back.
"Just keen to be working with the old gang again," McInnes, who played Max Connors between episodes 16 to 39, tweeted.
The original cast of characters included Diver Dan, played by David Wenham who is not on the latest cast.
The 1988 production saw filming around Melbourne and at the Victorian coastal town of Barwon Heads.
The first use of the term, seachange was by Shakespeare in The Tempest; referring to a paradigm shift in thinking.
In the modern context the term Seachange was popularised after the 1998 show by demographer Bernard Salt.
"I then unashamedly commandeered the term in my first book The Big Shift, published in 2001, to describe the shift by the Australian people to the coast." Treechange emerged in 2003. 
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firstname1-iYD4UYzvBa

Sigrid Thornton and John Howard back at SeaChange's Pearl Bay, but no David Wenham

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GUEST OBSERVATION
No longer pegged as one of the retirement villages of Australia, recent demographic data and interest in Tasmania suggest a change in the air. The seachange phenomenon, once linked to retirees, now involves younger groups, including young families. They are choosing lifestyle advantages associated with regional, coastal locations in a phenomenon that’s not isolated to Tasmania.
Certainly, places such as the Sunbelt Coast around Byron Bay in northern New South Wales have been similar to Tasmania in attracting baby-boomer retirees in search of a seachange. Our research, however, exposes some fundamental changes to this profile. The three largest age groups moving recently to these areas are all under 35. This raises the question: who are the seachangers really?
In addition to the population-related pressures of housing affordability and congestion, Australia is experiencing an ageing population and uneven distributions of people movements around the country. State and federal governments are talking about policies to redistribute people away from rapidly growing places like Sydney and Melbourne towards places experiencing decline or stagnation like South Australia and, until recently, Tasmania. Despite recent announcements of a redistribution strategy to ease big city congestion, without a comprehensive population policy much of the political rhetoric has remained exactly that.
Partly there is little understanding, beyond aggregate data, about how people are responding to population changes and deciding to move. What we do know is that people are moving in ways that our current assumptions about internal migration cannot adequately explain.
Goodbye Sydney, hello Tassie
In Tasmania, the reversal of interstate migration trends and the fastest population growth in almost a decade for the year to March 2018 are getting media attention. However, from a national perspective, the high level of migration out of Australia’s two biggest cities to coastal, regional locations suggests something else is at play.
Sydney is also receiving considerable media coverage of an increase in actual and planned migration from the city. Of the five substate regions (known as SA4s) in Australia with the highest net internal migration losses, four are in Sydney: the Inner South West, Eastern Suburbs, Paramatta and the Inner West.
Housing affordability, traffic and other forms of congestion that affect lifestyle and amenity are often cited as reasons for leaving. While Barnaby Joyce sees migration to places like Tamworth as the solution to crowded cities, it is coastal regions – places like the Gold Coast, the Sunshine Coast and Geelong – that are attracting more Australians than any other area.
Tasmania previously had a reputation for attracting retiring baby boomers with greater housing affordability, lower cost of living and the state’s natural and culinary environment for those seeking an active retirement. Yet a brain drain of youth to the opportunities offered by metropolitan cities had counteracted this trend. The “Mona effect” has changed Tasmania.
Of course, this is not a unique trend. Researchers internationally have explored the counter-urbanisation movement for many decades. Elsewhere, as with Australia, people have long sought to escape stressful and complicated city lives for simpler ones in rural or coastal places.
Internationally, we have seen a rise in so-called lifestyle migration of the middle classes seeking a better way of life. Often they choose non-urban spaces such as rural France and recently climate change “boltholes” for the super rich in places like New Zealand.
Australian seachangers are increasingly young
So who are the recent seachangers in Australia? Using ABS Census of Population and Housing data for 2016, we developed profiles of those who did not live in Tasmania or in the Sunbelt area one year prior.
The largest age group moving to Tasmania was those aged 25 to 29 years (14.0% of all movers), followed by those aged 20 to 24 (11.8%) and then 30 to 34 (10.3%).
Just like Tasmania, the largest age group moving to the Sunbelt was those aged 25 to 29 (12.9%), followed by those aged 20 to 24 (10.5%) and then 30 to 34 (10.2%).
<img src="https://images.theconversation.com/files/238236/original/file-20180926-48653-1wzoufn.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Seachangers’ age structure for Tasmania and the Sunbelt. Author calculation using ABS Census of Population and Housing data
The difference between Tasmania and the Sunbelt is the place of origin of these migrants. Both attract a large proportion from overseas (27.0% and 16.2% respectively). For Tasmania, the next biggest groupings relocate from Greater Melbourne (13.8%) or the rest of Queensland (12.6%). For the Sunbelt, large proportions of recent migrants previously lived in Greater Sydney (23.7%), the rest of New South Wales (22.3%), or the rest of Queensland (12.7%).
<img src="https://images.theconversation.com/files/238296/original/file-20180927-48662-152elfk.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Seachangers’ place of origin. Author calculations using ABS Census of Population and Housing 2016 data
What’s attracting the new seachangers?
The next important question is why are people moving to places that lack resources and employment? In research we have conducted over a decade now, it is clear no one variable dominates.
The most important factors often repeated to us involve both economic and aesthetic concerns. These include obvious issues like housing affordability, debt (via mortgage), stress and overwork. Other important concerns include risk perceptions of living in the city, bringing up children in simpler settings, experiencing increased quality time due to shorter commutes, and the imagined peacefulness of living in less populated and more aesthetically pleasing environments.
As we shift into a climate-changed environment, we could increasingly see movement for climate reasons. We are mindful that coastal development itself is at odds with this, with houses being built in highly vulnerable areas.
Importantly, with the appointment of a federal minister for cities, urban infrastructure and population and continued talk about overcrowded cities and how to alleviate this, we might want to examine those who are already making a seachange. Despite a recent Grattan Institute study finding that the major cities are “coping” and “adapting” and that much of the counter-narratives are overblown, there is too much anecdotal evidence to ignore that, at the very least, coping is not what people aspire to for their living and work environments. Finding a way to include these accounts in the current debate is crucial to our inevitable transformation into a bigger Australia.
Lisa Denny, Research Fellow - Institute for the Study of Social Change, University of Tasmania
Felicity Picken, Lecturer in Social Sciences, Western Sydney University
Nick Osbaldiston, Senior Lecturer in Sociology, James Cook University
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/meet-the-new-seachangers-now-its-younger-australians-moving-out-of-the-big-cities-103762" target="_blank">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

Meet the new seachangers: now it’s younger Australians moving out of the big cities

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It is tempting to think that life becomes idealic once you've made the sea or tree change, but the reality is often far from that.
And possibly a decision you and the family will regret.
It was recently suggested the once popular sea and tree change relocation phenomenon - which was lead by retirees over a decade ago - is showing signs of a return.
The sea and tree change represents a major life change which has often been based on a long held dream about retirement.
But the data suggests it is now being led by young families rather than retirees.
The population data shows that the shift is being fuelled by those aged 0-14 years and those between 25 and 64 years.
"This would seemingly indicate that migration within these coastal and lifestyle markets is being driven by young families," Cameron Kusher said.
For these young families it could be seeking life out of the fast lane or maybe tired of all the time spent in the traffic. 
“Sea and tree change have been the long forgotten buzzwords for the migration of people to coastal and lifestyle markets," CoreLogic RP Data analyst Cameron Kusher recently said.
"This trend was particularly strong before the financial crisis hit in 2008," he said, noting many lifestyle markets had since underperformed when compared to the capital cities.
The regions now attracting migration attention in New South Wales included the Shoalhaven, the mid North Cost, Central Coast, the Southern Highlands, Shoalhaven, the Blue Mountains and Illawarra.
"Recently we’ve started to see values rise in many of these regions.
"This supports the increased demand for housing (with migration as a source) which in turn, often leads to increases in home values.
“Another factor contributing to this migration is likely to be the recent home values increases in capital cities which has resulted in a deterioration of affordability and forced many younger families to look for alternatives to living in the capital cities," he said.
The need for employment is the key aspect to consider as even affordable housing needs income to pay off the mortgage.
According to the ABS, the rate of unemployment in most regional and coastal locations is significantly higher than in Sydney. It is crucial to put together a financial plan, remembering that wages may be lower and some costs will be higher.
The need for proximity to educational facilities is crucial too, from kindergarten to university.
For retirees access to health care is crucial, along with the issue of finding new friends and keeping intouch with old friends and the family.
Kusher analysed the top 25 national statistical area regions for internal migration over the 2008-09 and the 2014-15 financial years from the latest ABS Migration Statistics.
Outside of NSW, the busy lifestyle regions included the Sunshine Coast, Gold Coast, Geelong, Mornington Peninsula, Bunbury and Mandurah.
Don’t think it silly to rent and try before you buy, suggests buyers agent Veronica Morgan from the television series Relocation Relocation.
"It seems like a massive upheaval to do this but it’s nothing compared to the stress associated with having to sell a short time after buying if it doesn’t work out.
"No amount of research and planning will prepare you better than actually living the dream," she suggests.
Morgan also warns not to overpay through having a city mentality.
The good news for potential changers is growth in city house prices has significantly outperformed regional prices, so there will be a tidy kitty.
But be warned buying back in Sydney might be an issue once you've departed the big smoke for a few years.
This article was first published in the Saturday Daily Telegraph. 
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