FHBs Consider Interstate Move

One in five Australian first-home buyers are considering buying in another state to get ahead in the real estate game.

That’s 2,300 people per month who are prepared to move interstate to get their foot on the property ladder, according to Finder’s First Home Buyer survey.

The move is being fuelled by the Exodus to Affordable Lifestyle trend, with many people looking to leave bigger cities for more lifestyle-appropriate areas.

“Given the exodus of people from major cities like Sydney and Melbourne and an increased demand for regional properties, it isn’t surprising that so many
first-home buyers are open to a regional or interstate move,” says Sarah Megginson, home loans expert at Finder. “The booming market in certain areas is starting to see first-home buyers being priced out of
their own cities.”

In Victoria, 17% of first-home buyers say they would consider purchasing in another state with men (24%) more likely to do so than women (17%).