Young house buyers making the move to ‘Goldilocks Zones’
Australians are snapping up homes in droves in the ‘Goldilocks zone’ on city fringes or even further, new data has shown.
The sea-change or treechange movement seen around the nation for the past 20 years or so was previously popular with those aged 55 and over seeking to “downshift and downsize”, The Demographics Group managing director Bernard Salt said.
But now, it’s being done by people aged 25 to 44.
As Millennials emerge from their city hipster apartments with children in tow, they’re seeking a better lifestyle, with the once-in-a-lifetime health crisis proving working from home and only commuting to the CBD once or twice a week can be productive and result in far better lifestyles.
Thankfully, it all happened towards the end of the NBN rollout, with today’s 5.6 per cent unemployment rate showing “we’ve done pretty well”, Mr Salt said.
“I think there’s probably a Goldilocks zone between the edge of the city and maybe 130-140km from the CBD,” Mr Salt told NCA NewsWire.
“People taking their job, relocating to a lifestyle, sea-change or treechange area but still within striking distance of a capital city. That’s certainly an ascendant trend and I don’t see it as a flash in the pan or it reverting to normal.
“There are strong lifestyle, structural reasons behind this … they’re raising families. This is not something they can flip into and flip out of – they’re there until their kids grow up.
“The city is too expensive, too difficult, too congested. We can now telecommute … it’s a better quality of life.”
Mr Salt has labelled these lifestyle town lovers VESPAs – Virus Escapees Seeking Provincial Australia. Source: realestate.com.au