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Regional areas are performing better than the traditional power markets in the capital cities, new CoreLogic data shows.
The data, detailed in CoreLogic’s latest Property Pulse, shows that out of the top five council regions in each state and territory (with the exception of Canberra), regional areas recorded higher property turnover in comparison with their respective capital city six out of seven times.
Here is the breakdown for each state and territory’s turnover rates:
New South Wales
In New South Wales, each of the top five positions for turnover were located outside of the capital city, with Tumbarumba’s turnover of 8.5 per cent ranking in first place, followed by Dungog with 7.9 per cent, then both the Upper Lachlan Shire and Palerang tying at 7.7 per cent, and then Singleton in fifth with a turnover of 7.5 per cent.
At a broader look, Sydney only saw a turnover rate of 4.1 per cent, compared with the regional 5.6 per cent turnover rate.
Northern Territory
Most of the NT council areas for highest turnover were located in the Greater Darwin area, with Darwin city coming at fifth with a turnover of 3.3 per cent, Litchfield in fourth with a turnover of 3.7 per cent and Palmerston in third with a turnover of 3.9 per cent. Katherine and Alice Springs, second and first for turnover, are located outside of the capital city and saw turnovers of 4 per cent and 4.9 per cent, respectively.
The NT’s regional areas saw a turnover rate of 4.5 per cent, while the Darwin region saw 3.5 per cent of turnover.
Queensland
Like NSW, Queensland’s top five council regions for turnover were all located outside of the capital city.
The top council region was Noosa with a turnover of 7.4 per cent, followed by the Gold Coast with 7.2 per cent, the Sunshine Coast with 6.9 per cent, and then both Gympie and Douglas tied with 6.3 per cent.
Brisbane was one of three capital cities that defied trends and saw higher turnover than the rest of its state, with the capital city turnover being 5.6 per cent compared with the rest of Queensland’s 5.5 per cent.
South Australia
The majority of South Australia’s top council regions for turnover were located outside of the capital city, with the regional areas of Robe in first place with a turnover of 7.4 per cent, Mount Gambier in second with a turnover of 6.7 per cent, Victor Harbor in third with a turnover of 6.6 per cent and Alexandrina in fifth with a turnover of 6.2 per cent.
Campbelltown was the only council region located in Adelaide on the list with its turnover of 6.3 per cent.
Like Queensland, Adelaide outperformed its regional counterpart, recording turnover rates of 5.6 per cent and 4.8 per cent, respectively.
Tasmania
There were more regional council areas than capital city areas on this list for Tasmania’s top turnover. For regionals, Latrobe was in first place with a turnover rate of 7.4 per cent, then West Coast in second and Break O’Day in fifth, both with 7.3 per cent. The Hobart council regions were Sorell in third and Brighton in fourth, both again with 7.3 per cent.
Hobart’s turnover was recorded at 5.5 per cent, while the rest of Tasmania had a turnover rate of 6.1 per cent.
Victoria
The top two council regions in the state were both located in the Melbourne area, with Wyndham ranking first with a turnover rate of 6.3 per cent, followed closely by Cardinia in second with a turnover of 6.2 per cent. Next were the regional council areas, with Latrobe and Baw Baw in third and fourth, respectively, both recording 6 per cent turnover, and then Bass Coast in fifth with a turnover of 5.9 per cent.
Melbourne’s turnover was recorded at 4 per cent, while regional Victoria came in with 5 per cent.
Western Australia
Trending in the reverse to Victoria, the top three council areas for turnover were located in regional WA, while the fourth and fifth places were located in Perth. Ranking first was Port Hedland with a turnover of 5.4 per cent, then in second was Karratha with 4.8 per cent, East Pilbara with 4.3 per cent, then the Perth council regions of Mandurah with a turnover of 4.1 per cent and Claremont with a turnover of 4 per cent.
Perth’s turnover was recorded at 3.6 per cent, barely above the rest of WA, which saw a turnover rate of 3.3 per cent.
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egional areas are performing better than the traditional power markets in the capital cities, new CoreLogic data shows.The data, detailed in CoreLogic’s latest Property Pulse, shows that out of the top five council regions in each state and territory (with the exception of Canberra), regional areas recorded higher property turnover in comparison with their respective capital city six out of seven times.
Here is the breakdown for each state and territory’s turnover rates:
New South Wales
In New South Wales, each of the top five positions for turnover were located outside of the capital city, with Tumbarumba’s turnover of 8.5 per cent ranking in first place, followed by Dungog with 7.9 per cent, then both the Upper Lachlan Shire and Palerang tying at 7.7 per cent, and then Singleton in fifth with a turnover of 7.5 per cent.
At a broader look, Sydney only saw a turnover rate of 4.1 per cent, compared with the regional 5.6 per cent turnover rate.
Northern Territory
Most of the NT council areas for highest turnover were located in the Greater Darwin area, with Darwin city coming at fifth with a turnover of 3.3 per cent, Litchfield in fourth with a turnover of 3.7 per cent and Palmerston in third with a turnover of 3.9 per cent. Katherine and Alice Springs, second and first for turnover, are located outside of the capital city and saw turnovers of 4 per cent and 4.9 per cent, respectively.
The NT’s regional areas saw a turnover rate of 4.5 per cent, while the Darwin region saw 3.5 per cent of turnover.
Queensland
Like NSW, Queensland’s top five council regions for turnover were all located outside of the capital city.
The top council region was Noosa with a turnover of 7.4 per cent, followed by the Gold Coast with 7.2 per cent, the Sunshine Coast with 6.9 per cent, and then both Gympie and Douglas tied with 6.3 per cent.
Brisbane was one of three capital cities that defied trends and saw higher turnover than the rest of its state, with the capital city turnover being 5.6 per cent compared with the rest of Queensland’s 5.5 per cent.
South Australia
The majority of South Australia’s top council regions for turnover were located outside of the capital city, with the regional areas of Robe in first place with a turnover of 7.4 per cent, Mount Gambier in second with a turnover of 6.7 per cent, Victor Harbor in third with a turnover of 6.6 per cent and Alexandrina in fifth with a turnover of 6.2 per cent.
Campbelltown was the only council region located in Adelaide on the list with its turnover of 6.3 per cent.
Like Queensland, Adelaide outperformed its regional counterpart, recording turnover rates of 5.6 per cent and 4.8 per cent, respectively.
Tasmania
There were more regional council areas than capital city areas on this list for Tasmania’s top turnover. For regionals, Latrobe was in first place with a turnover rate of 7.4 per cent, then West Coast in second and Break O’Day in fifth, both with 7.3 per cent. The Hobart council regions were Sorell in third and Brighton in fourth, both again with 7.3 per cent.
Hobart’s turnover was recorded at 5.5 per cent, while the rest of Tasmania had a turnover rate of 6.1 per cent.
Victoria
The top two council regions in the state were both located in the Melbourne area, with Wyndham ranking first with a turnover rate of 6.3 per cent, followed closely by Cardinia in second with a turnover of 6.2 per cent. Next were the regional council areas, with Latrobe and Baw Baw in third and fourth, respectively, both recording 6 per cent turnover, and then Bass Coast in fifth with a turnover of 5.9 per cent.
Melbourne’s turnover was recorded at 4 per cent, while regional Victoria came in with 5 per cent.
Western Australia
Trending in the reverse to Victoria, the top three council areas for turnover were located in regional WA, while the fourth and fifth places were located in Perth. Ranking first was Port Hedland with a turnover of 5.4 per cent, then in second was Karratha with 4.8 per cent, East Pilbara with 4.3 per cent, then the Perth council regions of Mandurah with a turnover of 4.1 per cent and Claremont with a turnover of 4 per cent.
Perth’s turnover was recorded at 3.6 per cent, barely above the rest of WA, which saw a turnover rate of 3.3 per cent.
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