Property values went through a pandemic boom and bust, and while they’re not back to their peaks, they’re starting to pick up again.
House values are picking up again in Kiama on the NSW South Coast after the town’s pandemic boom and bust as home buyers seek a sea change and better value.
It remains 10.3 per cent below the record high of $1,729,307 in May 2022, CoreLogic data shows, set in a context of low interest rates and widespread remote working. Values then fell when interest rates rose and workers returned to offices. Lawless said Kiama’s median house value was not far off Greater Sydney at $1,470,625. For buyers with the means, the slight price drop is an opportunity to get into the Kiama market.“In a different context, that 10 per cent drop equates to around $177,000,” he said. “In dollar terms, it could be seen as a reasonable improvement to some of the values for entry for those that missed out at the peak.
“Listings are still elevated at 48 per cent above the 10-year average, so to see discounting and time on market reducing points to vendors becoming more realistic and adopting a solid marketing campaign,” Lawless said. “There are only 22 homes along the river and only six with original boatsheds, so it is very tightly held.”
Gai noted: “Buyers of the property can dive off the deck at high tide into crystal waters and enjoy the marine and bird life.”“Homes on the Minnamurra waterfront don’t come up often so it’s been a subject of interest for the locals,” Terry said.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Man Found Unconscious with Head Injuries on NSW South CoastPolice are investigating the suspicious death of a 60-year-old man found unconscious with serious head injuries on a rural property in North Nowra.
Read more »
Search Resumes for Missing Man After Empty Boat Found off NSW Illawarra CoastAn extensive search is underway for a missing man in his 60s after his empty boat was discovered drifting off the Illawarra coast of New South Wales.
Read more »
Empty Boat Found Off NSW Coast Sparks Search for Missing ManA 4-meter fishing boat was discovered empty and adrift off the Illawarra coast, prompting a large-scale search and rescue mission for a missing man in his 60s.
Read more »
Plane Crash Kills Two Off NSW CoastA light plane has crashed off the coast of New South Wales, Australia, with reports confirming two fatalities. Emergency services responded to the incident near Nambucca Heads on Saturday afternoon and located the wreckage about 1.5 kilometers offshore.
Read more »
Search Underway for Missing Swimmer Off NSW Coast as Another Body FoundA multi-agency search is underway for a 21-year-old man, Taewoo Kim, who went missing after a swim at Moonee Beach on Boxing Day. Meanwhile, the body of another man has been found in the water south of Wollongong.
Read more »
Search for man missing off NSW north coast amid string of drownings across holiday period21-year-old Taewoo Kim last seen going for a swim at Moonee beach, north of Coffs Harbour, on Boxing Day
Read more »