PHOTO: Lachlan Shire has enjoyed a big rise in land values.
The mass exodus of “tree changers” heading from urban areas to the country during Covid appears to have slowed to the point that regional Australian house prices are facing a market downturn of almost 25 per cent in some areas.
The premium end of the regional market in the more ‘desirable’ areas are taking the brunt and are now seeing softer values, longer days on the market and bigger vendor discounts.
The latest quarterly data on the state of the national property market in regional areas was released by Corelogic Australia last week and their economist Kaytlin Ezzy said she was not surprised…