Predicted regional growth areas
Contact
Aug 27, 2018
Predicted regional growth areas
Carol Carter from QLD Sotheby's International Realty, Damian Caine from Caine Property Ballarat, and Malcolm Gunning of the REIA spoke to WILLIAMS MEDIA about regional areas around Australia that they believe are experiencing growth.
-
Image supplied by Caine Property Ballarat22 Waterway Drive, Alredton sold by Damian Caine, principal of Caine Property Ballarat, as featured on Luxury List -
Image supplied by LJ Hooker91 Gatelys Road, Coffs Harbour for sale by Paul Fitzpatrick of LJ Hooker, as featured on Luxury List -
Image supplied by QLD Sotheby’s International Realty860 Gloucester Avenue, Whitsundays for sale by Carol Carter of QLD Sotheby’s International Realty, as featured on Luxury List
The regions are often overlooked, but many are booming with more employment opportunities, better infrastructure, and higher quality of living.
New South Wales
Wagga, Dubbo, Tamworth, Port Macquarie, Ballina, Bathurst, and Orange are all areas that Malcolm Gunning, president of the REIA believes are growing due to employment opportunities and infrastructure improvement.
“James Sturt University in Port Macquarie has expanded, there are big aged care developments at the moment,” Mr Gunning told WILLIAMS MEDIA.
“The airport has also expanded in the last couples of years, there is competition with Virgin, QantasLink and Rex so flights have become very reasonably priced."
Mr Gunning said there is plenty of work along the Sydney to Brisbane expressway.
“Coffs Harbour has been retirement central for many years, but the area has kicked off due to huge investment in the expressway.
91 Gatelys Road, Coffs Harbour for sale by Paul Fitzpatrick of LJ Hooker, as seen on Luxury List
“The Byron Shire and Ballina also have a terrific airport.
“You are getting people working at the bottom end of the Gold Coast and living in the Northern Rivers area.”
Mr Gunning added that Newcastle is booming because of the university and strong tourism.
“People commute back and forth to Sydney pretty regularly.
“Also the Newcastle Airport will be international very shortly.”
Victoria
Ballarat, Bendigo, Shepparton, and Warrnambool are the areas where Damian Caine, principal of Caine Property Ballarat is seeing and hearing of growth.
“In Ballarat specifically, Ballarat Central and Ballarat East are suburbs experiencing terrific growth,” Mr Caine told WILLIAMS MEDIA.
“What we are seeing is 1970s two bedroom brick unit blocks being sold for $478,000 just recently.
“These would have been sold for $300,000 two years ago.”
22 Waterway Drive, Alredton sold by Damian Caine, principal of Caine Property Ballarat, as seen on Luxury List
Mr Caine said some north west towns are having services withdrawn, and people are moving to Ballarat to have access to the facilities.
“People are also moving from Melbourne to Ballarat to live.
“What we have seen in the past is once Melbourne starts to grow, Ballarat has grown 12 months later.
“The Ballarat median runs at half of the Melbourne median, and we are still 25 per cent off that median," Mr Caine continued.
“We have another year or two of pretty reasonable growth ahead of us.”
Related reading: REIWA: Act quickly to ensure you don’t miss out
Queensland
Carol Carter from QLD Sotheby’s International Realty said she is seeing a lot more interest in Gold Coast properties.
“Everyday I come across someone who has moved here because of the price of property in Sydney and Melbourne,” Ms Carter told WILLIAMS MEDIA.
“You have to go so far out to get property that is reasonably priced in Sydney, and people are looking for value for money.
“My son paid over $1 million for a two bedroom house in Maroubra in Sydney a few years ago, which is now valued up to $1.8 million.
"On the Gold Coast $1.8 million will buy you a fantastic place.”
Ms Carter said astute investors are buying in the Gold Coast now, so when there is a mass exodus from the southern cities in five years time, they will already have their feet on the ground.
She also has a great belief in North QLD, particularly the Whitsundays.
860 Gloucester Avenue, Whitsundays for sale by Carol Carter of QLD Sotheby’s International Realty, as seen on Luxury List
“You can’t deny there is more and more enquiry coming into those regions.
“People are looking further afield, and you can work, play and live in the same area.
“Technology has allowed us to have that sense of purpose even if you aren’t at the office, and more people are going north for that reason.”
Related reading: Sydney rental market “in line with the winter seasonal trend"
Ms Carter said Sydney residents love the harbour but people are starting to love the Whitsundays and the lifestyle it offers.
“Where do you find somewhere like Whitehaven beach anywhere else in the world?
“Hamilton Island accommodation is also very hard to find because it's becoming so popular with people.
“Tourists always come first and then the buying starts.”
Related reading:
Parramatta a 'suburb of choice' and 'sub-city of Sydney'
Sales of million dollar properties trending lower - largest fall in Sydney and Melbourne
Gold Coast apartment market "shedding ‘boom and bust’ reputation"
Contact Details:
