Australia's largest metropolitan cities are exciting places to live and work, but they are becoming increasingly expensive. Although overall, Australia's housing market is stable and quite affordable, home prices in Melbourne average $335,000. Sydney is even higher, with prices well above the norm at an average of $524,000.
There are two major advantages to living in the Australian countryside; price, and availability of the rural "quality of life". Sometimes, you can even have both. Of course, one of the most affordable areas in all of Australia is Tasmania, with prices in Hobart averaging just $165,000, and other homes in smaller towns priced at under $100,000. Real estate in Tasmania is in demand and the state has a positive net migration as more people come to discover the charm of the rural Tasmanian lifestyle.
But, as primarily a farming community, Tasmania is not for everybody: if you work in Sydney, moving that far usually won't be an option. However, you don't have to pay $500,000 for a home if you don't want to. More people are choosing to commute to work every day. The Central Coast of New South Wales for example, offers an attractive alternative, sitting about halfway between Newcastle and Sydney. Prices are rising along the Coast rapidly, but homes there still present an advantage both in terms of price and amenities when compared to life in the Big City. The Central Coast, as well as Queensland's Gold Coast, offer less of a rural farming environment, and more of a resort/retirement town ambience, with plenty of opportunities for recreation.
Another noteworthy rural option is the Northern Territory. While the capital city of Darwin is more metropolitan, most of the territory is much more remote, and includes several indigenous communities. Housing here too remains quite affordable.
For those who are serious about embracing the farming lifestyle, the rural farm property market is strengthening, with a 34% increase in sales value in 2004-05. However, lifestyle farm turnover has declined, with most of the activity being in the broadacre, large corporate farming business. While smaller lifestyle farms aren't dead, fewer Australians are choosing to run them and agriculture is increasingly becoming the domain of large agribusiness corporations.
For those who prefer the rural or suburban lifestyle, especially while maintaining a commuting job in the city, there are plenty of options. Many real estate agents specialize in rural real estate that is within commuting distance of major population centers, and are ready and able to help you find a home that will enable you to have the best of both worlds.
The Census Bureau measured domestic migration -people moving within the United States - and discovered that nearly every large metropolitan area had more people move out than move in from 2000 to 2004.
The report provides the number of people moving into and out of each state, and the 25 largest metropolitan areas. The states that lost an important part of their residents are California, New York and Illinois, while those that attracted the most new residents are Arizona, Florida and Nevada.
Many Americans are moving from large metropolitan areas to bordering counties for cheaper homes and more space. Among the 25 largest metropolitan areas, 18 had more people move out than move in from 2000 to 2004. Domestic moves have a great impact on the biggest metropolitan areas - New York, Los Angeles and Chicago. The New York area alone had a loss of 211,000 residents during the 4 year interval.
Westerners are moving inland. North-Easterners are moving West or South. And just about everywhere, people are escaping to the outer suburbs, also known as exurbs.
William Frey, demographer at the Brookings Institution explains that this is "a middle class flight, a flight for housing affordability. It's not just white middle class, it's blacks and hispanics, too."
Housing prices are soaring in the metropolitan areas, even as the population shrinks. This is because of the smaller, wealthier households that replace larger families in many big metropolitan areas and continually bid up prices. In response to that, middle class people are forced to move out to the exurbs in search of more affordable homes.
High housing costs on both coasts drove more Americans to cheaper cities nearby. One big winner is the inland Riverside, Calif., area. It continued to attract residents from the Southern California coast from 2000 to 2004, experts say. The area has total gain of 81,000 people a year from 2000 to 2004 and has become the 13th largest metropolitan area in the United States. It's a short drive to several mountain ranges, and it's within driving distance of the beach. Locally, it is known as the Inland Empire.
Homes in Riverside had a median price of 374,200 in 2005. That's not cheap, but it's certainly less expensive than $529,000, the median price of homes in Los Angeles. "In Riverside you're able to obtain a very large home for a much lower price than elsewhere along the beaches and coastlines of Southern California", says Cindy Roth, president of the Greater Riverside Chambers of Commerce.
Other areas that attracted a lot of new residents are Phoenix, Tampa-St. Petersburg, Fla., Atlanta and Dallas-Fort Worth. They have relatively inexpensive homes, and that's the most important reason for many middle class Americans to move in such areas.
Both Tracey Anderson & Mike Barstow are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Tracey Anderson has sinced written about articles on various topics from Careers and Job Hunting, Business and Finance and Home loans. Tracey Anderson is a mortgage broker with 16 years experience in the Australian mortgage industry. She currently works with a number of broker networks including Mortgage Mall (. Tracey Anderson's top article generates over 2400 views. to your Favourites.
Mike Barstow has sinced written about articles on various topics from Relocation, Fishing and Education Toys. I grew up in Tulsa and then moved out to Los Angeles. I've been here a few months and already I scream in traffic at people.