As Melbourne progresses towards COVID-normal, what’s clear is that we need to re-define the term ‘normal’. There are aspects of life that have changed and many affect our property industry.

This guest article is written by Lauren Staley, the Managing Director of Infolio Property Advisors in Melbourne.

City dwellers are choosing to move to the country, bucking a trend that historically has been the other way around. The real estate industry has been reporting this anecdotally for months, but as the year comes to an end, new data from the Australian Bureau of Statistics and REIV, and a study by market research company Ipsos reveals the extent of the exodus.

The ABS’s report looks at the quarter for the three months until the end of June – the following quarter, until the end of September, is expected to follow suit. It reports that 5903 Melbourne residents moved to regional Victoria, compared to 2610 for the same time last year.

Consequently, regional housing markets are feeling it. REIV reports that the September quarter set a new record for growth in regional Victoria – the median house price rose 5.1 per cent, and 4.9 per cent over the last 12 months.

An Ipsos poll, commissioned by The Age and Nine News, tells a similar story. Of the 646 Melbournians it surveyed, one in 10 said they were thinking of moving to regional Victoria.

I think many would say that COVID has been a wake-up call – the catalyst for a reassessment of priorities. People are making choices that favour life, and lifestyle, overwork.

Lockdown highlighted the importance of a home is a refuge or sanctuary. We’re seeing buyers seeking out bigger blocks that offer more space and tranquil surroundings; families looking for homes with more living zones, especially as working from home becomes a way of life.

It’s highly likely that many workers won’t return to the office for the full five days, and as a result, the way we commute has changed. The need to live close to a train line or a workplace diminishes when you take the daily grind from the equation.

The Mornington Peninsula has been a big hotspot for Infolio’s clients, so much so that we’ve set up a specialist division devoted to the area. We’re helping clients secure property significantly faster than they could independently through connections to off-market opportunities and private sales, which, again, have increased because of COVID.

What’s brilliant about the Peninsula is the infrastructure. For years the government and local operators have invested in the area, and in making it accessible. Instead of sitting in traffic on Punt Rd people are choosing to fly down the Peninsula Link to their dream property, surrounded by Moonah trees, national parks, and some of Victoria’s most picturesque shorelines. And, there’s still everything else at their fingertips: shops, supermarkets, great schools, restaurants, cafes, golf courses and wineries.

In addition to those moving permanently, we’re seeing lots of people looking for holiday homes. Peninsula holiday homes are in demand offering peace, quiet, space, and a slower pace of life, even if just for the weekend. One of the great benefits of working from home is that now people feel they can get more use out of a holiday home – the ‘weekender’ can be enjoyed for longer, which makes the purchase worthwhile.

Personally, I’m excited about this new normal and the possibilities it opens up. It feels more feasible than ever before for people to be able to live where they want to live and find a better way to balance life with work.

Infolio Property Advisors are specialised Mornington Peninsula buyers advocates. The team also specialises in buying properties in Melbourne’s south-east, bayside and inner-city suburbs.