A buyers market?

The strong Australian dollar, slowing tourism and sluggish buyer interest is causing discounting of many coastal properties across the country, though a few areas are bucking the trend.

RP Data senior analyst Cameron Kusher says ‘people aren’t moving to the coastal areas like they were before the global financial crisis when people were buying holiday homes…Its seen more as a luxury item and people are more conservative now’.

In some areas pessimism persists and buyers are sitting on the fence. There are a few exceptions however. Areas with a diverse economic base are likely to attract more capital growth compared with their tourism-reliant counterparts.

In Victoria, Kusher highlighted Fairhaven as an example of an area with stronger growth potential. It is a ‘diversified market and a close commute to a capital city’ he said.

Real Estate Aireys Inlet

James Worssam
james@greatoceanroadrealestate.com.au
0418 585 815

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