Working From home brings about a lifestyle change

The arrival of Covid-19 led to a nationwide work-from-home period, promising positive forecasts for regional housing markets across Australia: many of those living in urban areas have come to the realisation that they may, in fact, have outgrown their home.

Data from CoreLogic reveals regional prices have been more stable during the Covid-19 Pandemic than other capital city markets, with many city dwellers finding themselves fed up with working from home in more costly homes and making the scene change. The turning trend allowing people the opportunity to work from home has certainly been an enabler to leaving the city whilst maintaining a particular working arrangement.

CoreLogic’s recent data compared the rolling quarterly change in dwelling values across Victoria, New South Wales and Queensland. The graph below demonstrates all regional markets initially suffered downtowns at the beginning of Covid-19, however, they managed to rebound much quicker than their capital city counterparts.


CoreLogic’s head of research, Eliza Owen, has reported it’s still to early to tell if the relative stability of regional Australia property markets during Covid-19 is a part of a bigger trend. This is because housing sales have been lower due to restrictions brought about by Covid-19, and the border lockdowns means Capital City markets are more affected by loss of international interest.

Many factors come into play here too. If property prices in capital city markets experience significant falls in the next few months, some of those may have been looking for a tree-change could decide to stay in the city due to affordability. If the option to work from home stops or metro job prospects increase, many who may have planned on leaving the city could return.

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