Sydney Cycle Rippling to Coastal NSW?

I am noticing the regional centres along the coast of NSW are seeing some growth - Port Maq, Coffs, Taree, Forster and so.

No big movements but some have gone up around 7% from the previous median price.

Possibly some nice steady growth in the coming years?

 

It is happening along the south coast also. We have seen prices now about 10% up from previous peek in past 6 months.

 

There has been a lot more interest in inner regional areas as well of late. It will be interesting to see if it will push rents up.

 

Some of the growth would be boomers selling up in Sydney and retiring where it is cheaper.

 

You mean inland regionals ? if yes, I concur, things are moving in places I follow.

The coastal regionals have been rising for a while now it seems, but I do not watch closely.

 

This is exactly what we are seeing at the moment.

 

And, happens virtually every cycle.

 

I should have added that some neighbours just sold a house they bought in June 2012. After 4 years and 3 months they are taking a 57% profit on their purchase prcie. That's 13.4% pa annualised.

 

Hi Mick, how's Bermi going? I spotted a cheapie in Wallaga Lake, not sure I'm up for another full on reno yet though!

 

I know the one you are talking about. It looks like I have sold that one. It was in need of a FULL reno!. Bermi is going great. I love being able to live and work down here. The market is getting quite strong here as the ripple kicks in. You could have bought the little reno job and we could go for a fish on knock off .

 

Getting lonely down there with all those retirees?

 

Haha. There are plenty of young families down here too. Just lots more oldies.