Regional Australia Institute analysis promotes move to regional areas with higher disposable incomes

REGIONAL cities are helping Victorian families cut the cost of living, with similar incomes to Melbourne’s outer suburbs but lower house prices.

REGIONAL cities are helping Victorian families cut the
cost of living.

Analysis from the Regional Australia Institute finds people living in Melbourne’s outer suburbs earn on average $75,660 a year, while those in regional centres pocket about $69,600.

But the analysis shows cheaper cost of living means regional Victorians are often better off.

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Regional living may provide a better cost benefit for families. Picture: Supplied

“The differential in house prices means that in practical terms, disposable income is likely to be equivalent or higher in regional centres for many residents,” the analysis states.

Regional Australia Institute chief Jack Archer encouraged Victorians to think about the opportunities in regional areas.

“There’s this perception that there’s opportunities in cities but no jobs in regions,” he said. “It’s time to get past that. Regional areas actually have many of the same opportunities as outer suburbs.”

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Research released by Deloitte Access Economics last Thursday finds Geelong, Ballarat and Bendigo offer more “bang for their buck” with a higher livability ranking than two-thirds
of all Melbourne local government areas.

House prices average $435,000 in the regional cities, and are most comparable to outer suburban Cardinia, which ranks 13 places lower for livability.

Julie and Andrew Edwards moved with their five kids, aged 7-18, from Werribee to Geelong for a better lifestyle.

Ms Edwards is a sales associate at McGrath Estate Agents, while Mr Edwards works in transport at Port Melbourne.

“All our kids have said they wished we moved here earlier,” Ms Edwards said.

“On weekends we can pop to the beach and are heavily involved in local sport, so we are probably spending more time together as a family now.”

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