Hi,
Let’s get a discussion started on what community feel will be the impact (if any?) of the current drought on the property market?
All opinions are welcome… have your say today by posting a reply!
Well I can’t confess to be a professor of knowledge on the subject but I feel that the drought may actually have a positive effect on the property in country regional centres. I guess my reasoning for this is based on the Tape Fast Track. I feel that those in isolated country areas will tend to move more towards regional areas in search for more stability in their work and as a consequence, they’ll also be seeking housing. I don’t believe that this will all happen in a period of 12 months but perhaps more like 2 years etc. This is my thoughts only and I haven’t done indepth research in the area except to keep looking for, and investigating where, the ‘sleeping giants’ are…
Matt
I suppose the obvious thought that springs to mind is that people will leave the country and so prices will fall – less demand for the properties in the area. This could happen at the same time as people who are unemployed – recently laid off, on the DPB, for whatever reason – in the city moving to the country so that they can get a decent quality house and lifestyle given their limited incomes. I know of a number of people who have done this over the years, and not so far from Melbourne, e.g. to Daylesford, Castlemaine, Woodend, as well as to places much further away like Port Fairy.
The topic ‘The drought and property… what will happen?’ is closed to new replies.
