The tree change wave over the past few years had sparked the opening of new cafes and restaurants and prompted local areas to tidy up infrastructure and improve roads, she said.
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“The new regional Australia is quite a capital city feel,” she said. “And it’s still more affordable than Sydney, Melbourne, Brisbane.”
She said the unemployment rate in many tree change hotspots was low and city leavers could find local jobs. Although the pay might not be as high as in the city, the cost of living would be lower too – and she felt that property prices were likely to rise over time.
“We’re still going to see price growth, that’s not in question, because we are undersupplied, regardless of whether it’s a commuter town or a fully moving [further afield] town,” she said.
“Many people are starting to go, capital cities are great, but they want to experience something different.”
Nambucca Heads has been drawing out-of-area buyers from Sydney and Newcastle, as well as from Byron Bay and Ballina, McGrath Nambucca Heads’ Adam Jones said.
He said buyers were drawn to the natural beauty of the coastal area, local services such as schools and healthcare, the community-oriented feel and the proximity to larger Coffs Harbour.
“Nambucca Heads in particular, nothing is more than three minutes’ drive from anything else,” he said. “It’s a pretty magic spot.”
Buyers on a budget of about $750,000 could find a four-bedroom house with a double lock-up garage that has had some updates, he said, possibly with water views.
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In Forster-Tuncurry, a buyer on the same budget would most likely be looking at entry-level homes, Elders Real Estate Forster-Tuncurry’s Darren Rice said.
They could most likely find a freestanding three-bedroom, two-bathroom house between 20 and 40 years old on the outer rim of Forster or Tuncurry.
At that level, interested parties include first home buyers, holiday home buyers, downsizers and investors chasing rental returns, he said.
But above $800,000 there are fewer investors because the rental income is less likely to service the mortgage. A standard freestanding house in Forster could range from $850,000 to $1 million.
And prices rise closer to the water, up to luxury properties in the $2.5 million to $2.8 million range.
“We’ve got so many incredible beaches,” Rice said. “Our area is so picturesque.
“It’s small enough where people can have a bit of a getaway from your bigger cities if you want to have a getaway, but still go somewhere where you can have a nice meal, beautiful restaurants.”
A household with two average income earners working full time and a budget just above $1 million could consider a range of sea change options including Wollongong, the Tweed Shire, Shellharbour, Newcastle, Port Stephens, Shoalhaven, Port Macquarie and Coffs Harbour.
But they would be priced out of the most sought after coastal hotspots of the Byron Shire, where the median house price is now more than $1.32 million, and Kiama, where the median house will set buyers back $1.5 million after booming 80.7 per cent in five years.