Values sink in seaside towns

By |

Coastal areas continue to drop in value, offering a scary proposition for investors who want to take advantage of sea-changer and tourism opportunities.

New figures from RP Data have revealed that the 10 largest coastal regions in Australia now sit well-below historically high values experienced prior to the GFC. 

RP Data research analyst Cameron Kusher attributed some of the poor performance to a levelling off of population growth, pointing out the number of people moving to coastal areas had dropped. 

“A slowdown in migration has had a negative impact on market conditions,” he said. 

Across the states, performance varied with far-north Queensland reporting a major decline, while coastal NSW, including Port Macquarie and Coffs Harbour, saw a slight increase.  

Kusher also highlighted a disparity between the value of detached housing and units, the latter showing more fluctuations. 

“This result… can broadly be attributed to the downturn in demand for holiday apartments, downturn in the tourism sector of the economy and overbuilding of units in some areas,” he said.

Can you afford to buy in this suburb? Find out how much you can borrow

Top Suburbs : bendigo , freshwater , toowong , westmead , narara

go back

Get help financing your investment

Do you need help finding the right loan for your investment?

When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.

Just fill in a few details below and we'll then arrange for a local expert Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus, our mortgage broking service is at no cost to you.

How soon would you like a mortgage?
What is your Annual Household Income i $
Do you currently own any Investment Properties?
Do you own your own residence?
How much equity do you have in all your current properties?
First Name
Last Name
Where do you live?
What number can we reach you on?
E-mail address
We value your privacy and treat all your information seriously - you can check out our privacy policy here