By Ashlea Skupien
Country living is driving a notable increase in commercial real estate as businesses and investors turn to rural areas for new opportunities. According to recent data from the Regional Australia Institute, internal migration has risen by 20% above pre-COVID levels, with the first quarter of 2024 seeing a peak in this trend. This shift is significantly impacting the commercial property market in regions like Dubbo and the Central West.
Dubbo is experiencing strong growth in its industrial sector, marked by a rise in sales and leasing activity. This uptick is due to high demand for warehouse space and a limited supply of industrial-zoned land. Similarly, Wagga Wagga is seeing increased industrial transactions, reflecting a growing interest in regional commercial properties.
The growing demand for industrial and retail spaces in these areas highlights a shift towards more opportunities in regional markets. As businesses and investors seek new ventures outside major cities, the commercial real estate landscape in country regions is evolving.