WELLINGTON TOPS LIST
Low unemployment, cheaper housing
WELLINGTON has topped a list of regional towns with low unemployment levels, job-rich prospects and cheaper housing in recent research undertaken by property analyst provider Corelogic.
While metropolitan areas are often out of reach for many aspiring home owners, the regional centres across the country are proving to be a smarter and more appealing choice for first home buyers and families.
Head of research at Corelogic and author of the study, Tim Lawless, said that the tree-change phenomenon is growing and city dwellers are realising the worth of moving further afield.
“For many people, considering a move involves much more than simply relocating – most will require secure employment and in a region that is proximate to a variety of amenity and essential services such as schools, health care and shopping facilities, particularly if they have a family, or are considering starting a family,” Mr Lawless said.
The analysis focused on towns where the labour force has at least 10,000 people, with an unemployment rate of less than 4 per cent. Based on local government area statistics, Wellington has a median house price of just $212,221 and an unemployment rate of 2.2 per cent, making it the most job-rich, affordable town in the country. In fact, the unemployment rate across the broader Western Plains council area, which includes Wellington, has reduced from a recent peak of 5.4 per cent down to 2.2 per cent.
Queensland’s Isaac region with its mining towns of Moranbah, Dysart and Nebo, ranked second on the list with a median house value of $221,677 and unemployment rate of 1.8 per cent.
Dubbo itself came in tenth, with a median price of $347,291 and rate of just 2.2 per cent unemployment.
Mr Lawless said, “Prospective buyers considering a move away from the capital cities in search of more affordable housing options might be best renting first, just in case country living isn’t for them.
“While housing prices are generally much higher in the capital cities relative to their regional counterparts, the diversity of amenity, social options and job opportunities can often be hard to match.”