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Real Estate on the move in Eurobodalla

From the flurry of activity we have witnessed over recent months on the South Coast it is more than apparent that we are experiencing increasing demands for sea and tree changers wanting to resettle away from the city and enjoy working remotely under the new options now available to them through video conferencing and acess to a faster nbn. Commenting on the wave of new comers to the shire who are bringing their jobs, and their families, Carleen Franzen of South Coast Property Specialists told The Beagle "For 2021, most of the analysts are predicting a strong year for real estate. A recent article by Real Estate Business covered the comments by ME Banks head of home loans Andrew Bartolo, who “believes the next 12 months will see widespread recovery”. "A survey that ME Bank conducted in December showed 46% of owner occupiers expect the value of their dwelling to increase during 2021. Mr Bartolo’s went on to make six predictions for the coming year. These are

1. Prices will likely rise

2. A ‘two-speed’ market will continue

3. Demand: Properties will sell

4. Supply: More fresh listings will hit the market

5. Desire for ‘urban village’ living will accelerate

6. More competitive home loans "ABC have reported on a family in Tasmania that had found themselves in an "acute regional rental crisis" that has expanded beyond metropolitan areas, where some tenants are paying about $400 per week depending on the region. They commented on how ridiculously fast and how quickly the prices have gone up.

"Over the course of the year, we have reported on the increase in sales prices for properties in regional areas. It appears that this is now flowing through to the rental market with a very short supply of stock which typically leads to an increase in rental prices under normal “supply and demand” characteristics. "And even if someone can afford the higher rental prices, often there is insufficient suitable properties available and the list of people applying for them is enormous.

"CoreLogic head of research Eliza Owen said regional rental prices across the country had seen a "really strong increase" since the start of the pandemic in March. "Some of these areas have seen a very strong growth rate off the back of relative affordability, but also potentially more people moving to the regions during the onset of COVID-19," she said.

"Sometimes these increases in regional rents can actually reflect the spill-over of demand, when capital cities become too expensive."

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