The escalating property prices in our cities is encouraging first home buyers to look further afield. This is being complemented by improvements to our public transport systems, which makes living with a daily commute a more viable option.
Projects are abound throughout Australia, meanwhile, the New Zealand Ministry of Transport has allocated more than $36billion to the transport system over the next decade, including improved state highways, local roads and public transport.
This will likely have a positive effect on real estate in Australia and New Zealand that are a bit further out, as they’re enabled easier access to the city centres. Here are three reasons why you should be looking at homes for sale away from the city.
According to CoreLogic RP Data, the combined values of Australia’s capital cities have increased 11 per cent in just 12 months. For a new home buyer, this essentially means you can now purchase less than you could last year!
Acquiring a home away from these hot property markets will allow you to get more for what you pay for. Whether it’s a larger section, a pool or a tennis court, your quality of living will likely be better.
The New South Wales Parliamentary Research Service found that between 2012 – 2014 the median prices for Sydney’s inner and outer rings grew by $70,000 and $38,000 respectively.
Working in the city will allow you to experience the adrenaline-inducing fast pace, attractions, conveniences and opportunities to socialise and meet new people.
However, wouldn’t it be great to know after all the noise and flashing lights, you will have a quiet and comfortable home to come back to? It’s a win-win scenario, especially when you can find a property that ticks the boxes that’s less than a hour from the city via public transport.
According to Roy Morgan Research, the number of motorists on Australian roads has increased by 2.6million over the last decade alone. Thus, instead of twiddling your thumbs in traffic, you should use the aforementioned evolving public transport systems.
While on the bus or train you can make a head-start on some work, get in touch with clients, catch up on the news, immerse yourself in a nice book or simply relax with some embarrassing music (safe from prying ears with headphones).
At the end of the day there are a multitude of reasons why you should consider property for sale outside your city. If you would like to know more you should speak with your local real estate agent.