MITCHELL Shire has been listed as one of the top 10 regional locations across Australia that are poised to benefit from regional migration.
A report, written by Australian property commentator Terry Ryder, labelled the Mitchell Shire as a regional location that is benefitting from a so-called ‘exodus to affordable lifestyle’ trend.
Mr Ryder said the shire had many qualities that a lot of people were looking for.
“What we’re seeing is that areas like Mitchell Shire in particular are being targeted by people from Melbourne,” he said.
“It’s more affordable than inner suburbs, still relatively close to the CBD and is reasonably well-connected to Melbourne.”
Mr Ryder said Melbourne had lost people over the past five years to internal migration, particularly into regional parts of Victoria.
“Advanced technology, improved transport links and the ability to work remotely and a desire by more and more people to access a better lifestyle at an affordable price has been underway for several years,” he said.
“It’s been turbocharged, however, by the pandemic and now more and more Australians are looking for hill change or sea change enclaves.”
Mitchell Shire was listed over neighbouring shires such as the Macedon Ranges or City of Whittlesea due to sales activity rather than house prices. Recent years have seen a lot of activity in house sales as people buy, sell and rent more.
Another factor is the projected growth in the shire, with a forecast increase in population of more than 300 per cent – unlike any other area in Victoria.
“Property owners can sell up in a capital city and buy something of the same standard in a regional or lifestyle area for half the price – and either significantly reduce their mortgage or find themselves mortgage-free with money left over,” Mr Ryder said.
“That’s a very appealing proposition particularly for young people starting out who are looking a realistic way to enter the property market without necessarily compromising their lifestyle.”
Mr Ryder predicted that major upgrades would need to be taken out on Mitchell Shire’s transport infrastructure to cement it as a suitable area for the changing demands of Melbourne’s people.
Other areas in the top 10 were:
* Sunshine Coast hinterland, Queensland
* Bundaberg, Queensland
* Yeppoon, Queensland
* City Of Onkaparinga, South Australia
* Mt Barker, South Australia
* Port Lincoln, South Australia
* Port Stephens, New South Wales
* Lismore, New South Wales
* Rockingham City, Western Australia
Those top ten are cities, not small towms like Kilmore