The latest Residex Predictions Report has identified the Batemans Bay area, postcode 2563, suggesting it will be the third best area for property growth across Australia. The report predicts a growth rate of between 5.1 and 8.29 per cent over the next eight years as more and more Sydneysiders look further afield for an affordable sea change.
Across the Shire, house prices rose 13.4 percent in the 12 months to June with the median house price increasing to $445,000 up from $392,250 in June 2016.
Investors are taking note also as rental prices for houses increased 14.3 per cent to an average of $400 per week, up from $350 per week in June 2016.
The area is recovering after a plateau since the 2008 global financial crisis, thanks to renewed investment into the area with a refurbishment of the marina and the New South Wales Governments’ pledge to invest $300 million building bridges at Batemans Bay and Nelligen along with some large consumer store investment into the area, including Bunnings.
Once considered the domain of Canberra buyers, the relaxed NSW south coast lifestyle and current affordability are encouraging Sydneysiders to take a second and third look at moving into the area. Whether that be the baby boomers looking to retire and enjoy a peaceful sea change or young families looking to avoid a potential million-dollar Sydney mortgage.
Batemans Bay was named in 1770 by Captain James Cook, and sits on the entrance to the pristine Clyde River and is famous for its succulent Clyde River oysters, game fishing, picnic spots, relaxed lifestyle and charming seaside town.
Try Before You Buy In Batemans Bay.
Interestingly, many baby boomers, new to the area, are preferring to rent for 12 months in Batemans Bay so they really get to know the area, before they buy.