Too late to make a tree change to beat cost of living

One in five metro residents want to move to the regions, but they haven’t factored in one significant problem. See why it’s too late to flee the city.

Cash-strapped Melburnians have left it too late to flee to Victoria’s regional centres to escape the cost of living crisis, experts have warned.

The massive wave of pandemic-era tree changers who flocked to Bendigo, Ballarat, Geelong and Hepburn Shire have pushed property prices hundreds of thousands of dollars past previous market benchmarks.

It’s bad news for the one in five metropolitan-based Australians who have been revealed by the Regional Australia Institute as wanting to ditch city living.

It found that younger Australians, aged 18-29, were the most optimistic about regional job prospects with nearly half recognising the professional, skilled and entry-level jobs on offer.

Angela Durston-Ryan, a 32-year-old civil engineer from Yarraville, packed up her life two years ago and moved to Shepparton.

Angela Durston-Ryan lives and works in Shepparton, Victoria. Picture: supplied

She was able to buy her first home, after a long period of renting in Melbourne’s west.

“I was able to get an internal transfer and keep my job,” she said.

“It’s been really good for me. I love snowboarding and camping and it’s so easy to get to the mountains from here.”

Dr Peter Ghin from Melbourne University’s business and economics division said there was little affordable housing stock left in places like Bendigo and the rental market was tight.

“We have seen exponential growth in the property prices in Bendigo,” he said.

“What we are seeing however, is people who would have been in Bendigo go further out to find affordable accommodation so there is movement into those areas.”

In 2022 regional Victoria saw one of the largest jumps in people choosing the quiet country life over the city hustle, according to the December quarter Regional Movers Index, with

Ballarat recording the biggest jump.

Regional Australia Institute chief executive Liz Ritchie said the impact of capital city movers to the regions was putting a strain on the towns that had historically seen very low growth.

“The areas experiencing significant net migration increases would certainly be feeling the impact on house prices and rents, local services and infrastructure,” she said.

“For that reason, policymakers, industry and regional leaders need to heed these results, to ensure adequate planning and resourcing is put in place to accommodate demand both now and in coming decades.”

Bendigo Mayor and Regional Cities Victoria chairwoman Andrea Metcalf said she could understand why people wanted to move.

“Regional Victoria has seen record population growth in recent years — and we’re not in the least bit surprised,” she said.

“There are so many benefits to living in the regions — the lifestyle, the sense of community, the locations.

“We are so proud of all that regional Victoria has to offer.”