Ditching cities for regional areas is predicted to continue with fewer people tethered to offices, and there’s likely to be unintended consequences. The popularity of regional Australia is predicted to increase in 2021, putting strain on housing supply and increasing prices in the most desirable locations. The trend began before the coronavirus pandemic, but with fewer people tied to a physical office, it’s a viable option for an increasing cohort. “I think this is going to be exactly what we’re going to see this year, people getting out of the larger cities and moving to the regions,” Real Estate Institute of Australia president Adrian Kelly said. “It’s probably going to have some unintended consequences too, which have already started.” Chief among them is cost of living in regions where current housing stock doesn’t support newfound popularity. “Where someone might have been renting a house for $250 a week, you’re probably …
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