Low un­em­ploy­ment, cheaper hous­ing

Dubbo Photo News - - Front Page -

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.”

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