Victorians are eyeing homes in Tasmanian and Queensland lifestyle havens as lockdown lingers.
Searches for interstate homes on realestate.com.au by Victoria-based buyers are up 54 per cent on a year ago, with the Hobart, Launceston and Gold Coast regions rising to the top of their wishlists since COVID-19 struck.
Househunters are simultaneously deserting Melbourne, with demand from buyers and renters plunging in pockets on all sides of the city.
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Over the past six months, the 25 regions with the biggest drops in average views per sale listing nationwide were all in Melbourne, headed by Monash, which was down 25.6 per cent.
Demand from buyers also plummeted in the Whitehorse and Sunbury areas, while renters turned away from Stonnington, Yarra, Glen Eira and the CBD, realestate.com.au found.
REA Group director of economic research Cameron Kusher said whether this search activity foreshadowed a “mass exodus” remained to be seen, especially with Melbourne’s physical inspections ban putting many homeowners’ moving plans on hold.
“For a lot people, it’s not worth listing their properties at the moment — they can’t put their best foot forward by having (professional) photos done, and having people come and have a look at it,” he said.
But the pandemic had made many Melburnians realise they could work from home, and accordingly move to places where they could get “a lot more space and more for their money”, Mr Kusher said.
That included commutable regional cities — “if you’re living on the outskirts of Melbourne, say down at Cranbourne, you might as well be in Ballarat or Geelong” — and interstate.
“Even if you live in Tassie or southeast Queensland and need to go into the office in Melbourne one or two days, it won’t be out of the realms of possibility to jump on a plane,” he said.
When asked this week about Melburnians moving interstate, Premier Daniel Andrews said: “We’ll get this health challenge dealt with and then we’ll be beginning the biggest program of economic repair and rebuilding this state has ever seen.
“As for individuals who may make a choice to find a COVID normal somewhere else, that’s a matter for them.
“We’ll wait and see if they come back … when we’re in a freer position to show the rest of the country and the world our inherent strengths.”
Devonport joined Hobart and Launceston among Victorian buyers’ Tasmanian targets on realestate.com.au, while Noosa Heads, the Sunshine Coast, Brisbane and Cairns represented Queensland alongside the Gold Coast.
Rounding out top 10 were New South Wales’ Byron Bay and Moama.
Many of these suburbs were also among the most searched by Victoria-based renters, with Adelaide, Canberra and Tassie town Burnie also making the list.
Ray White Werribee director Michelle Chick said many Melburnians who had suffered financially due to COVID-19 were also deciding they “don’t need large mortgages, or they can’t afford their large mortgages anymore” and seeking cheaper homes outside Melbourne.
She added others like Sabrina Groenewald — whose three-bedroom Wyndham Vale house is on the market asking $500,000-$550,000 — were pursuing warmer climates to help alleviate health issues that had deteriorated during lockdown.
Ms Groenewald and her husband, Etienne, planned to sell the 3 Ologhlen Drive property to help fund her urgently needed spinal surgery and a move to Flagstone, between the Gold Coast and Brisbane.
But the state government extending Melbourne’s physical inspections ban to October 26 had “shattered” those plans.
“We’ve been wanting to move to Queensland for years now, I grew up there,” Ms Groenewald said.
“Then all this happened, so my husband and I thought it was the perfect time.
“But with the real estate restrictions, I can’t sell my house, so I won’t have the money to buy the land in Flagstone and build our dream house.”
Ms Groenewald said she had even picked out a “prime piece of land” and hired a conveyancer in preparation for their move.
“I’m hoping the government will allow private inspections, maybe even auctions outside in the fresh air where people can distance, … so I can get this house sold,” she said.
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INTERSTATE BOOM:
Most searched interstate regions by Victorian-based people since COVID-19 hit
Buy
Hobart greater region, TAS
Launceston greater region, TAS
Gold Coast, QLD
Noosa Heads, QLD
Sunshine Coast, QLD
Byron Bay, NSW
Devonport greater region, TAS
Brisbane greater region, QLD
Moama, NSW
Cairns greater region, QLD
Rent
Hobart greater region, TAS
Launceston greater region, TAS
Gold Coast, QLD
Adelaide, SA
Burnie greater region, TAS
Sunshine Coast, QLD
Brisbane greater region, QLD
Launceston, TAS
Devonport greater region, TAS
Canberra greater region, ACT
Source: realestate.com.au, from April to August
MELBOURNE EXODUS:
Biggest drop in views per listing since COVID-19 hit
Buy
Monash: -25.6%
Whitehorse (west): -22.4%
Sunbury: -20.2%
Whitehorse (east): -18.1%
Darebin (north): -15.1%
Essendon: -14.4%
Moreland (north): -13.4%
Yarra: -12.8%
Cardinia: -11.8%
Stonnington (east): -11.5%
Rent
Stonnington (west): -26.6%
Stonnington (east): -26.2%
Yarra: -24.1%
Glen Eira: -23.4%
Melbourne City: -21.3%
Essendon: -20.8%
Boroondara: -20.7%
Port Phillip: -18.4%
Brunswick-Coburg: -17.3%
Maribyrnong: -14%
Source: realestate.com.au, buy from March to August, rent from April to August
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