The Sydney house median price of $1,021,968 will now buy at least two homes with cash left over, and sometimes three, in other areas. 

Domain Group chief economist Dr Andrew Wilson says  many people are  looking towards pastures greener, with affordability the major driver.

“There’s such a big price differential,” he said.

“Together with low interest rates and the perception of good value, as well as good price growth in most regions, they can look very attractive. 

Domain identified Mudgee among the best rural centres for relocations, along with Orange, Dubbo, Nowra, Maitland, Port Macquarie, Coffs Harbour, Byron Bay, Tamworth and Wagga Wagga. 

In comparison to Sydney’s million dollar median, Mudgee median house price is $382,500, up 9.3 per cent on last year and 37.1 per cent from five years ago. 

 “We also have a lot of good schools, a hospital, a newish medical centre and award-winning wines, good food and more and more small bars,” said David Goldring of The Property Shop.

“It’s trendy for weekends away, and increasingly now for people to come and live.”

Wagga Wagga mayor Rod Kendall, spokesman for Evocities, an organisation of seven regional cities encouraging Sydneysiders to make the move, said Sydney investors could find better quality residences for less money in regional areas, with a maximum commute of about 10 minutes to work and close to shops, schools and good restaurants. 

“People are moving not just because of affordability but also liveability,” Mr Kendall said. 

“The biggest hurdle they face is just their own preconceptions of what our cities are like.  

“They’re not hick villages in the middle of nowhere; they look more like a suburb of Sydney with all the facilities and job opportunities, but few of the hassles.”