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House prices rocket in Australia's top regional growth areas

Home values in Australia's most in-demand country towns are surging strongly as the COVID-led exodus from capital cities continues, with the nation’s top five growth areas for regional migration located within a three-hour drive of Melbourne.

Aerial photo of Geelong with marina in foreground
High-population coastal centres such as Geelong were among the most desirable locations for those fleeing capital cities. Photo: Shutterstock

Home values in Australia's most in-demand country towns are surging strongly as the COVID-led exodus from capital cities continues, with the nation’s top five growth areas for regional migration located within a three-hour drive of Melbourne. 

New research from the Commonwealth Bank showed Melbourne’s numerous and lengthy lockdowns drove a mass exodus to nearby country towns in 2020-21, with five local government areas within a three-hour drive …