Australian rent prices: Regional rents soar amid pandemic tree-change effect

May 13, 2021

Source: Domain

Asking rents in popular regional towns are still soaring as pandemic tree changers think about making a permanent move.

But the stunning pace of growth could slow as capital city employers encourage workers back to CBD offices, at least part of the week.

Coastal lifestyle hot spots such as Byron Bay and Noosa have recorded rent growth of more than 20 per cent over the past year, the latest Domain Rent Report for the March quarter, released on Thursday, showed, as the rise of remote working prompted an exodus from major cities.

“We have had this flow of sea and tree changers,” Domain senior research analyst Nicola Powell said.

“During this period of time people have tested whether they actually are keen to do a sea or tree change permanently.

“Working from home has allowed people to make life-changing decisions, test them temporarily, to see if that’s what they would want to do for the longer term.”

We have done quite a bit of work in many spots such as Ocean Grove, Ballarat, Bendigo, Wadalba, Hervey Bay etc. Our research team does all of the ground work so we have detailed research on what is going on in the area and what is being projected to happen.

Contact us to find out how we can help.

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