What to expect for regional property markets during winter

WATCH: What to expect for regional property markets during winter

Transcript

00:00Autumn has been a big season for the Australian property market. We've had two rate cuts this year

00:05so far. There's been a federal election and some surprising turns for the regional property sector.

00:10But here's what you can expect for winter going into spring. First, there is still a lot of uptick

00:16in regional markets across the country, and that is ahead of what's happening in most cities.

00:21But the reasons for that uptick are quite surprising. During the pandemic, it's well

00:26documented. It was very much a lifestyle trend and the market's peripheral to the capital cities,

00:31whereas now the strongest regional trends are well beyond those commutable markets and wouldn't

00:37necessarily have a lifestyle element to them, although some do. More about regional economies

00:42that are strong and offering up very affordable housing opportunities. That's right. More and more

00:48Australians are moving to regional economic centres and are staying there and really building a life

00:52there. That's a trend that is expected to continue, and so you can probably expect to see

00:57strong cycles in regional markets through winter. We also know that the rate cut, the second one of

01:02the year, is likely to filter through in the months of June, July and August to the property sector.

01:07Now, a lot of regional markets and particularly Canberra are slower to move than other capital cities,

01:13and so that's something that we could continue to see play out through the rest of the year

01:16as people have a bit more borrowing power up their sleeve.