Market Update

By Terry Digger & Jason Stalgis

First National Coast and Country Real Estate has seen an increase to residential properties sold in the Kiama region over the past 6 – 8 months compared to previous years, this can be attributed in part to the exceptional increase in property values which is now prompting locals to bring their selling plans forward and sell now to take advantage of these unprecedent times.

Several articles over the past six-months had indicated increases by 20 per cent to property prices in coastal areas over the next two years, it is apparent that this increase has been extremely rapid with a 29% increase in Kiama, 27% for Gerringong and 104% in Gerroa over the past 12months. This is largely attributable to Sydney buyers looking to relocate to less populated locations and the flexibility to now work from home. Buyers are seeking larger properties, coastal locations and less populated areas. Major infrastructure works, including the $400 million Princes Highway upgrade, resulting in improved commute times makes the transition from city to coastal far more desirable than previously.

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