{"id":34974,"date":"2021-10-07T12:14:19","date_gmt":"2021-10-06T23:14:19","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=34974"},"modified":"2021-10-07T12:14:19","modified_gmt":"2021-10-06T23:14:19","slug":"melbourne-and-sydney-shed-245000-in-population-last-year-what-does-that-mean-for-property-prices","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/melbourne-and-sydney-shed-245000-in-population-last-year-what-does-that-mean-for-property-prices\/","title":{"rendered":"Melbourne and Sydney shed 245,000 in population last year: what does that mean for property prices?"},"content":{"rendered":"<p><strong>PHOTO: Sydney &amp; Melbourne<\/strong><\/p>\n<p><a href=\"https:\/\/propertynoise.co.nz\/au\/?s=Sydney&amp;submit=Search\">Sydney<\/a> and <a href=\"https:\/\/propertynoise.co.nz\/au\/?s=Melbourne&amp;submit=Search\">Melbourne<\/a> lost 245,000 people last year, which could have long lasting ramifications for the property market in both cities.<\/p>\n<p>Regional Australia grew by 51,000 people in the same time, with the tree and sea change effect going into overdrive since Covid struck.<\/p>\n<p>The pandemic accelerated a trend that has been in place for decades, with work from home and first home buyer subsidies smashing the regional market as people depart from Melbourne and Sydney.<\/p>\n<p>\u201cThat pattern has been in place for literally decades,\u201d said Simon Pressley of Propertyology, who compiled the statistics.<\/p>\n<p>\u201cEvery single year, even before Covid, more Australians leave our capital cities for different corners of Regional Australia than go the other way.\u201d<\/p>\n<p>\u201cThat\u2019s a fact that most people aren\u2019t aware of. Even in the last five years, of which Covid has only been 12 months, 145,000 people net left the capital cities left capitals for regional Australia.\u201d<\/p>\n<p>\u201cBoth Sydney and Melbourne, in most years, are the biggest beneficiaries of overseas migration. 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&rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":34975,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478098512,478098521,478108952,478098566,478098562,478098519,478098535,478098537,478108856,478098873,478098579,478098510,478098616,478098514,478100757,478098511,478098509,478103153,478098536,478098618,478102289],"class_list":["entry","author-data123nz","post-34974","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-australia","tag-australians","tag-covid-19","tag-first-home-buyers","tag-foreign-buyers","tag-home-ownership","tag-house-prices","tag-melbourne","tag-melbourne-property-market","tag-property-investment","tag-property-market","tag-property-news","tag-property-prices","tag-propertynoise","tag-propertyology","tag-real-estate","tag-real-estate-news","tag-simon-pressley","tag-sydney","tag-sydney-property","tag-sydney-property-market"],"yoast_head":"<!-- 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