Normally, spring in the Kiama area is our busy sales period, with our calendars overflowing in appraisals and open homes. Last year, however, was different, the seasons merged into one continuous busy sales cycle. While we’ve all had to navigate restrictions, homes in our region continue to sell, breaking records, time after time. And this summer has been no exception.
Despite the numerous challenges the pandemic has thrown at us, the region’s real estate continues to thrive. Across our offices, we have completed 47 sales in the last quarter alone. Visitors returned during December and local businesses have had some reprieve. With 96% occupancy from 21st December, our holiday homes have been bustling. Keeping our property management team very busy this summer.
The trend for sea and tree changers to the area continues. Three local towns have made national headlines having topped the list for regional annual growth.
Kiama Region Tops The List
Our region is arguably a tiny slice of paradise that has become more and more known in recent times. As 2021 came to a close, and as property records show, it is fast becoming out of reach for many to own a home here.
The stats in Core Logic’s best of the best report 2021 provide the evidence to support this, with three of our local towns topping the list for annual growth in median house value in the last 12 months. Gerringong’s top spot saw house prices rise 56.4%, with neighbouring Kiama Heights taking the third spot at 52.8% growth and Shoalhaven Heads in a close fourth position at 52.7%.
The summer has been yet another season for increased local property values. The trend that developed at the beginning of the pandemic for sea and tree changers to discover our region continues. The desire to have more space and a coastal lifestyle that we all love has been driving the demand for houses over units, with 78% of total sales in the last quarter being house sales.
The median house price in Gerroa is now sitting at $3,050,000; this is a stand out in our region and Australia. This tiny village has increased its median house price by 111% in the last 12 months.
Read our full report with all our real estate insights for the October to December 2021 quarter in our latest market review. As always, we hope you enjoy this update and we hope it inspires you to make your next property decision.