The COVID-19 pandemic has unexpectedly resulted in a boom for regional areas, with increased employer flexibility and a desire to escape the city driving people to look beyond major and provincial cities.
A recent PRD Research report found both Federation and Greater Hume local government areas were among the top 10 affordable regional areas in Australia.
Both cites boast unemployment figures lower than the state average, low vacancy rates and solid rental returns.
House prices in capital cities surged in the December quarter of 2020, with the median house price for Sydney, $1.2 million, and Melbourne $941,000.
In other news
PRD Research found because of this regional areas "have become the most attractive option in 2020 due to flexible remote working being introduced admits COVID-19 lockdowns and restrictions."
Greater Hume's median house price was $237,500 in December 2020, while the median land price was $121,00.
Federation Council's median house price for the same period was $293,500 and the median land price was $130,000.
Greater Hume's Margaret Killalea said research done in 2020 showed one in five people were considering moving from metro to regional areas.
"We know the time frame for moving anywhere is about 12 months to three years, but certainly the pandemic and lockdown measures in some cities has accelerated that thinking," she said.
"It's really a great time for regional areas, particularly Greater Hume, it's a bit like the stars aligning, there's low interest rates, and the silver lining to the pandemic cloud is accelerated demand.
"A report like PRD Research's really puts a spotlight on Greater Hume and how attractive we are as an affordable investment coupled that with great lifestyle, great sporting facilities, a strong sense of community and easy commute of less than 45 minutes... into provision centres of Wagga and Albury-Wodonga."
Mrs Killalea said the council's involvement in national and Riverina-based campaigns designed to draw new residents, like Country Change, had caused an increase in inquiries from people looking to relocate to the shire.
Our journalists work hard to provide local, up-to-date news to the community. This is how you can continue to access our trusted content: