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Moving Out of the City

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Published: 13Mar2006
Word count: 434
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Australia's largest metropolitan cities are exciting places to live and work, but they are becoming increasingly expensive. Although overall, Australia's housing market is stable and quite affordable, home prices in Melbourne average $335,000. Sydney is even higher, with prices well above the norm at an average of $524,000.

There are two major advantages to living in the Australian countryside; price, and availability of the rural "quality of life". Sometimes, you can even have both. Of course, one of the most affordable areas in all of Australia is Tasmania, with prices in Hobart averaging just $165,000, and other homes in smaller towns priced at under $100,000. Real estate in Tasmania is in demand and the state has a positive net migration as more people come to discover the charm of the rural Tasmanian lifestyle.

But, as primarily a farming community, Tasmania is not for everybody: if you work in Sydney, moving that far usually won't be an option. However, you don't have to pay $500,000 for a home if you don't want to. More people are choosing to commute to work every day. The Central Coast of New South Wales for example, offers an attractive alternative, sitting about halfway between Newcastle and Sydney. Prices are rising along the Coast rapidly, but homes there still present an advantage both in terms of price and amenities when compared to life in the Big City. The Central Coast, as well as Queensland's Gold Coast, offer less of a rural farming environment, and more of a resort/retirement town ambience, with plenty of opportunities for recreation.

Another noteworthy rural option is the Northern Territory. While the capital city of Darwin is more metropolitan, most of the territory is much more remote, and includes several indigenous communities. Housing here too remains quite affordable.

For those who are serious about embracing the farming lifestyle, the rural farm property market is strengthening, with a 34% increase in sales value in 2004-05. However, lifestyle farm turnover has declined, with most of the activity being in the broadacre, large corporate farming business. While smaller lifestyle farms aren't dead, fewer Australians are choosing to run them and agriculture is increasingly becoming the domain of large agribusiness corporations.

For those who prefer the rural or suburban lifestyle, especially while maintaining a commuting job in the city, there are plenty of options. Many real estate agents specialize in rural real estate that is within commuting distance of major population centers, and are ready and able to help you find a home that will enable you to have the best of both worlds.

Tracey Anderson is a mortgage broker with 16 years experience in the Australian mortgage industry. She currently works with a number of broker networks including Mortgage Mall (http://www.mortgagemall.com.au ) both as a broker and an expert industry analyst.

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