As the dust settles from a challenging year filled with uncertainties, the recently released NAB Regional & Agribusiness Horizons Report 2023 has shed light on the remarkable resilience and growth of regional and rural Australia. Aptly themed “From Strength to Strength,” the report showcases expert NAB insights on the drivers behind the positive trajectory of regional and rural communities. Among the shining stars of this growth is the Fraser Coast region, which stands out as a great place to live. In this blog, we delve into some of the key findings of the report, highlighting why regional Australia has emerged as an attractive destination for homebuyers and investors alike.
Rising Strong Against Adversities
Throughout the past year, regional and rural Australia has faced a series of formidable challenges, ranging from droughts and floods to bushfires and the pandemic’s fallout. However, the businesses driving these economies have demonstrated remarkable tenacity and adaptability. The NAB report showcases data collected from over 650 NAB Regional and Agribusiness bankers in more than 120 locations nationwide, providing a comprehensive and insightful outlook.
Resilience, Hard Work, and Wise Investments Pay Off
The report’s findings echo the stories of strength and determination from customers in regional and rural towns and farming communities. Despite enduring significant upheavals, these communities have proven their mettle through resilience, hard work, and strategic planning. Moreover, wise investments and favorable growing conditions have further buoyed their prospects for sustained growth.
Internal Migration to Regions on the Rise
One of the most compelling trends highlighted in the report is the significant surge in internal migration to regional areas. Compared to pre-pandemic rates, internal migration to regional Australia is now flowing at an impressive pace, reaching 30% above previous levels. This shift signifies a growing preference for regional living, as individuals and families seek a change of scenery, better lifestyle, and a safer environment away from the bustling cities.
Fraser Coast claims its spot as one of Australia’s most preferred local government areas by share of regional migration from capital city residents in 2022.
Fraser Coast Shines as an Ideal Living Destination
Amidst the growth across various regions, the Fraser Coast has particularly stood out as an ideal place to live. Its picturesque landscapes, coastal charm, and thriving community make it an attractive destination for potential homeowners and investors. As capital city property prices start to ease off, regional property prices have continued to hold up, making the Fraser Coast an even more appealing option for those seeking a balanced lifestyle without compromising on convenience and amenities.
Fraser Coast, our local gem, shines brightly as a top contender for the most sought-after attributes, nominated by NAB bankers! From its family-friendly lifestyle and affordable living options to breathtaking scenery and a pleasant climate, this captivating region offers it all. Safety, quality education, and top-notch healthcare further add to its charm, making Fraser Coast an idyllic haven to call home.
Investment Opportunities in Regional Real Estate
With regional property prices showing robustness amidst uncertain economic times, the NAB report emphasizes that investment opportunities in regional real estate are worth considering. As businesses continue to flourish in these areas, the demand for housing and commercial properties is likely to remain stable, ensuring a steady market for investors.
Hervey Bay secures the fifth spot as one of Australia’s fastest-growing significant urban areas between 2001-2022 with a remarkable growth rate of around 75%!
The NAB Regional & Agribusiness Horizons Report 2023 paints a promising picture of regional and rural Australia’s growth trajectory, underlining the strength and resilience displayed by these communities in the face of adversities. Fraser Coast, in particular, shines as a standout region, offering an enviable lifestyle and investment potential.
If you are considering a move or investment in regional Australia, the Fraser Coast is undoubtedly a location to explore further. To read the full report and gain comprehensive insights into the drivers of regional growth and opportunities, you can visit REPORT. Embrace the future of regional living as it goes “From Strength to Strength”!