Regional property markets still booming

Demand for regional real estate remains elevated even though lockdowns have ended.

REA Group chief financial officer Janelle Hopkins said property listing website realestate.com.au was still seeing huge interest for properties in regional areas.

“The level of demand for looking at properties in regional Australia has been massive and through the roof and completely structurally different to what we were previously seeing,” Hopkins told The Australian Financial Review CFO Live summit.

During the pandemic, Australia saw record movement of people from capital cities to regional areas as a result of the shift to remote working.

“We’ll continue to see people living out there and doing the commute probably one or two days a week into the city and having their daily lives in the regions,” said Hopkins.

“I think people are enjoying that opportunity to be able to slow down a bit.”

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