Coronavirus: sand sells as lifestyle drives coastal push

Beachfront suburbs in commuting distance have taken ofF during COVID-19, with lifestyle and work-life balance driving a shift away from inner-city living.

Elise Aston with her daughter Ebony, 20, on the beach at Torquay near her home in Jan Juc on Victoria’s south coast. Picture: Aaron Francis

Beachfront suburbs in commuting distance have taken of during COVID-19, with lifestyle and work-life balance driving a shift away from inner-city living.

Realestate.com.au’s inaugural Regional Report shows a spike in search activity outside capital cities during lockdowns early in the year, resulting in a price spike in recent months.

REA Group chief economist Nerida Conisbee said the ability to work from home, increasing job opportunities in regional centres and the desire for a better work-life balance was leading many people to question suburban living.

“There is continued interest in regional Australia and it has gone from the locations that are adjacent to capital cities to areas that are far flung,” Ms Conisbee said.

“More and more people long term want to live near the beach. Beachside areas in capital cities are very expensive and so that interest is now extending to regional areas.”

Byron Bay’s millionaire enclave, Bangalow, is now one of the top 10 viewed suburbs nationally on Realestate.com.au and is the first regional suburb to make the list in five years of tracking. The town, about 10 minutes from the beach, has been growing in popularity for decades, with median prices up 1281 per cent since 2000 to crack $1.05m.

 

The first COVID-19 lockdown, which began in March, caused the areas of Illawarra, Gold Coast and Bendigo to spike in popularity, but views per listing data between April and September showed regional areas near the sea, like Bangalow, won out.

Seaside Jan Juc in Victoria, Gold Coast’s Tugun, South Australia’s Port Elliot, and Western Australia’s Yallingup all offer great beaches and are popular holiday destinations, topping the regional search lists in their respective states.

Elise Aston, 40, listed her Jan Juc home, south of Geelong, on the market in mid-October. Within a week, the home was under contract after welcoming 17 groups through the door and getting multiple offers.

Ms Aston did the sea-change a decade ago to give her then-young children a more laid back lifestyle than in Melbourne’s inner city. She can see why many would be ready to make the move in the current climate.

“Lifestyle is a huge driver. It has such a vibe here and a great community,” Ms Aston said.

“It differs greatly from inner-city living and it’s definitely growing.”

Shaun O’Callaghan, director at One Agency Surf Coast, said properties in the town did not often come to market, but when they did they sold. The last four or five properties sold less than two weeks after listing, attracting multiple offers and huge inquiries. Two sales had not even been inspected.

Mining towns are once again growing in popularity after the commodities boom during the pandemic, with Port Hedland now achieving the highest inquiry from first-home buyers in regional Western Australia and is the second most inquired area from investors.

Evidence of a potential shift north is occurring from property watchers in southern states, Ms Conisbee said, with search into Queensland from interstate up 40 per cent over the past six months and doubling from Melbourne.