Australia with A Pinch of Salt Are Kiwis Moving Too?
By Kirsten Magnusson
The changes, said Salt, didn’t stop there. Speaking at the recent First National Real Estate Australia convention in Canberra, in front of 550 agents, Salt was as frank about Aussie behaviour through the pandemic, as he was confident about Australia’s future.
What he said may provide some insights into kiwis and what we do next in property, as well.
Mr Salt said that through Covid-19 Australians emerged from their fashionable hipster, inner city apartments and looked again at the ‘burbs and small towns.
“In particular, they looked at houses with a garden, two or three bedrooms and a zoom room,” he said. They investigated property within striking distance of major or state capital cities.
He dubbed this group VESPAs – Virus Escapees Seeking Provincial Australia.
“They are scooting out of the capital cities in search of escape and retreats of their own,” he said, and referred to Bonnie Doon, an idyllic small town in rural Victoria as the poster child of this movement.
“These are amongst the very big trends shaping demand for Australian property going forward,” he said.
Analysing this insight he said that the children of the baby boomers – now in their late 30s and early forties – were the drivers of this movement. They ‘echoed’ their parents’ actions.
“They are coming out of apartments and buying homes,” he said. “This is an upgrade of demand for property, as well as a post covid surge.”
Mr Salt also looked out into Australia’s future. “There’s every reason for Australians to be confident. We’re 25 or 26 million people in charge of a continent full of resources,” he commented.
“Because Australia has navigated this coronavirus so well, there will be entrepreneurs, immigrants, businesses with skills as well as students and visitors who want to be part of Australia. That’s going to drive a lot of energy into Australia around the middle of the decade.” He said.
Are Kiwis Moving on Out Too?
Infometrics says ‘yes’, based on Stats NZ figures. In an article looking at trends over 2020, it said that there was generally an outflow from urban areas to some select regional areas such as: Northland, Upper Bay of Plenty, Upper Wellington and mid Canterbury. The article concluded that drivers such as the ability to work remotely, house prices, and living affordability contributed to this, and that Covid-19 had turbo charged this trend.