Scott's Weekly Column

The Coffs Coast is not Sydney

It was interesting to hear the TV reports and read the newspaper articles about the inner-city Sydney and Melbourne markets over the past few months. After 2-3 years of record sales and record prices they are beginning to slow! Well it’s about time! The mistake many people make is to think that this is a reflection of all real estate markets.

There are hundreds of different real estate markets across Australia all affected by different local market conditions and forces. The mining boom in WA and QLD in 2010-2014 did not force any price rises on the Coffs Coast. The massive rises in Sydney and Melbourne markets in 2014-2017 didn’t have the same effect on our local market and neither will the slowdown in those markets. We did not see any Chinese, Korean or other overseas investors when the southern capitals were getting smashed so my prediction is if they disappear it will have little or no effect on our region.

Currently the Coffs Coast is experiencing a surge in enquiry with sales volumes strong and solid rather than spectacular price rises. Although over 80% of sales are still made to locals the extra activity is being driven by lifestyle buyers moving from the southern capitals and ex-pats and Australians looking to invest in our beautiful region. Our region offers buyers amazing natural features, medical, transport and educational facilities and affordable real estate.

We are the lucky ones because we already live in the best part of the best country in the world!

Have a great weekend!