The draw of living close to the city could be about to change as many Australian’s make the shift away from the major and towards regional areas on the back of COVID-19.
With working from home now a part of everyday life for a lot of people, according to a new study by Ripehouse Advisory large portions of the population will start looking at areas two to three hours away from the CBDs.
The research found regional areas of NSW could potentially see some of the biggest benefits as well as areas such as Kapunda in South Australia's Barossa Valley and Mackay near the Great Barrier Reef.
Ripehouse Advisory CEO Jacob Field has called the move 'the Great Australian Population Shift' and feels there will be certain pockets that will benefit heavily from the changing population.
'We are seeing a golden circle emerge around our key metro cities,' he said.
Ripehouse Advisory also identified a number of areas that could see a shrink in population. These were largely metro areas that relied heavily on immigration.
Sydney's Parramatta and areas within the CBDs of Melbourne and Adelaide were at the top of this list.
Immigration into Australia will fall to virtually zero over the next six to 12 months meaning both tourists and new arrivals will have a hard time coming into the country.
Mr Field believes that many Australians are now finding they don’t need to live near their workplace any more.
'Strict and lengthy public health restrictions during the height of the pandemic sent the majority of Australians into virtual lockdown, and many have since realised they don't need to be living within proximity of major cities and workplaces,' Mr Field said.
The results are positive news for many first home buyers and those looking to settle down.
'It is fitting with the iconic Australian concept of "have a go mate", that through adversity, we see first home buyers and young aspirational investors set to benefit most for the positive elements of this population shift,' Mr Field said.
Many regional areas have already started to see a boom in population, with Orange in regional NSW already a popular location for first home buyers.