Towards understanding the dynamics of the Regional Property markets of Australia

Abstract

Housing one third of the population and generating two thirds of the export economy, regional towns and rural areas are a significant part of the Australian socio-economic structure. Although there is substantial policy focus on regional development and improving the well-being of its residents at federal and state levels, much of the detailed, large scale, longitudinal studies on the built environment, real-estate and property markets are often focused on the capital city regions. To tackle this issue, this study uses the detailed, comprehensive, large scale, long-term longitudinal data on property sales made available by the Valuer General offices of New South Wales and South Australia to understand the dynamics of the property markets in regional Australia and the factors affecting them