Reverse migration as sea and tree changers head back to the cities

After two years living on the Sunshine Coast avoiding COVID-19, Nic McSorley-Handley wants to get back to a major city to recharge his career and enjoy the lifestyle of a vibrant metropolis.

“Many people thought they did not want to work in an office and bought a place outside the city,” he says. “Now that there appears to be a return to normalcy as the pandemic recedes, they’ve got to find a new place closer to work,” he adds. But big increases in property values for many sea- and tree-changer hotspots have not offset the rise in metropolitan prices.in the nation’s major cities have fallen and rents are rising, according to SQM Research, which monitors property markets.

Buyer costs include stamp duty of around 3-5 per cent of the selling price. This is usually higher for homes costing more than $3 million.A tax-effective alternative strategy, according to Mark Chapman, tax director at HR Block, might be to rent out the main residence and use the income to rent another property closer to the workplace.

Pretty fickle bunch. Wasting money moving out then moving back

Slow news day....here ya go

Do we really want these bed wetters back?

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