Many Australians, young and old, are trading city congestion for the open skies of regional areas. Not only are they drawn by the lifestyle, but also by the affordable housing and reduced living costs.
This regional growth is being spurred on by significant growth in infrastructure development and evolving lifestyle trends. With nearly 40% of Australians now residing in regional areas, the investment potential in these communities is becoming more promising than ever.
Emerging Opportunities
Regional Australia is undergoing a transformation that is being fueled by substantial infrastructure investments.
New South Wales (NSW) leads with five renewable energy zones (REZs), including the Central-West Orana REZ, which is expected to deliver 4.5 GW of network capacity by 2028, attracting $20 billion in investment and creating 5,000 construction jobs.
There’s also the Inland Rail project, which is a 1,600-km freight line connecting Melbourne and Brisbane. This line will enhance connectivity across Victoria, NSW and Queensland.
These types of developments are not only boosting local economies but are also making regional areas in general more accessible and attractive for investment.
Population Growth
One of the appeals of regional living is reflected in the population trends.
As of June 2024, NSW experienced a 1.7% annual population increase, with regional areas like Greater Geelong surpassing traditional hot spots such as the Sunshine Coast in internal migration.
This shift is being driven by factors that include things like more affordable housing, improved lifestyle options and a steady improvement in infrastructure.
The Regional Australia Institute has reported that regional Australia’s population reached 9.78 million in June 2023, which marked a 6% increase since 2018. This indicates that there is no doubt that a tree shift is taking place.
Investing in the Future
With the convergence of infrastructure development and population growth, regional Australia is being positioned as a compelling opportunity for property investors. Given the combination of renewable energy projects, transportation upgrades and a growing workforce, a robust environment is being developed for long-term investment that forward-thinking investors would be wise to take advantage of.
If you’re looking for diversity in your portfolio and you want to capitalise on these emerging trends, it’s crucial to understand the nuances of regional markets.
To do this, you should engage with an experienced property advisor like WPG Advisory to get the insights you need to navigate this dynamic industry more effectively.
Are you interested in exploring the investment potential of Australia’s regional growth? Contact WPG Advisory for expert guidance on identifying opportunities that are being bolstered by increased regional infrastructure development and shifting lifestyle trends.