The small NSW rural town of Boorowa, around 120km north of Canberra, is riding the wave of population growth, says local real estate agent, Justin Fleming from Flemings Property Services. The growth is thanks to empty nesters and tree changers, who are leaving the hustle and bustle behind in search of affordabilityand a relaxed, stress-free lifestyle.
It’s a trend occurring all around the country, as a growing number of Australians move further inland and further away from capital and coastal cities, according to the latest official snapshot of regional migration.
According to the latest Regional Movers Index (RMI) by the Regional Australia Institute (RAI), migration from capital cities to regional areas is 11.7 per cent above the pre-COVID-19 average, driven largely by cost-of-living pressures spurring city folk to seek out affordable places to live.
The report also showed that 38 per cent of net movers relocating from cities headed to regional NSW in the 12 months to September 2023, up from 26 per cent in the previous 12-month period. This is not surprising given the recent interest rate rises causing financial hardship in many city households.
According to Mr Fleming, the impact this has had on regional towns like Boorowa cannot be understated. Whilst Boorowa offers a high level of amenity for its residents, the increase in demand and money pouring into the region is leading to the need for increased supply and, in turn, better and improved services, infrastructure and greater liveability.
“Boorowa is within striking distance of Canberra and is becoming increasingly popular with those who still might commute once or twice a week to the city for work, but enjoy the perks of regional living,” Mr Fleming said.
“I think people see country communities as offering a happy, affordable and quality lifestyle.
“We’re also seeing demand from investors who are also being priced out of hotspots like Murrumbateman and Yass and are starting to look in neighbouring ‘ripple regions’ where housing and vacant blocks are more affordable.
To address the demand for housing in the region, a residential estate is planned for Boorowa, called Donohoe’s Estate, offering a total development of 127 lots of land for sale.
Positioned half an hour’s drive from the Hume Highway, Stage One of the development recently hit the market with 57 lots on offer, ranging from 1250 sqms to 6325 sqm, and starting at $180,000.
“This is really exciting for the town. Donohoe’s Estate is a substantial but sympathetic extension of the existing township. The estate has been thoughtfully designed, and has been well received by members of the community,” said Mr Fleming.
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