Regional real estate is hot right now, as some big city residents relocate for an affordable lifestyle. However, it’s not just small-town Australia that is happily reaping the rewards. Hotspots such as Hobart and Canberra are also home to some of our happiest vendors.
RateMyAgent’s latest Price Expectation Report polled 20,000 vendors and discovered that 41% of them outside large metropolitan areas are achieving prices over expectations.
The ACT was named the happiest state or territory for sellers (53% of vendors happy), while Victoria and Tasmania had the happiest regional areas.
The quarterly report, which surveyed vendors between July and September, also revealed a 6% boost of happiness compared with the previous quarterly study done when Covid-19 infections and market uncertainty were high.
Mark Armstrong, co-founder of RateMyAgent, says that despite continued economic uncertainty, there is strong demand in regional Australia and the smaller capital cities.
“Agents and vendors should welcome 2021 and the spring/summer sales season with high levels of optimism as potential buyers look for a tree or sea change,” he says.