General
Sydney exodus drives regional property prices up and locals out of the market
An influx of former Sydney residents combined with a lack of housing stock is propelling regional New South Wales property prices to record highs, while pushing locals out of the market.
Key points:
- Regional NSW property prices rose by almost 10 per cent last year
- Researchers expect city residents to continue moving to regional areas this year
- Rental properties are becoming scarce, with reports of rising housing stress
Figures from CoreLogic reveal property values in rural and regional areas rose by almost 10 per cent last year, which was five times the growth rate in Sydney.
The data also showed 48 per cent of regional NSW reported record median property prices in January.
The figures, which combine the sales of houses and units, saw Burradoo…
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