Escaping the city
Tell Sydneysiders that they can cut their daily commute by a quarter and slash their mortgage by a third while still having access to great coffee, and they’ll probably ask: “What’s the catch?” But an increasing number of former city slickers are discovering the only obstacle to a cheaper lifestyle is actually deciding to take the plunge.
According to Evocities, a NSW regional resident attraction campaign, more than 3600 new households have migrated to their seven partner cities and surrounds since 2010.
One of the main drivers attracting people to those destinations – Albury, Armidale, Bathurst, Dubbo, Orange, Tamworth and Wagga Wagga – is affordable real estate.
In a report being prepared for Evocities by .ID Consulting, figures show the median house price to income ratio in the last Census was 4.7 per cent, compared with a huge 8.4 per cent in Sydney.