At number 692th in the list of Australian suburbs ordered by increase in median house value over the last year, Malua Bay, 2536 is in the top 20% with a property value increase of 11.22% recorded in median house prices.
Malua Bay,2536 has offered an average of 11.22% return per annum in house price rises to property investors over the last three years.
Property investors looking for a bargain in Malua Bay should be aiming for at least -5.33% off the asking price, which is the average vendor discount being achieved at the moment.
Information supplied by:
The Bateman’s Bay suburb of Malua Bay saw its first significant growth spike in 1987, according to Residex figures. Malua Bay’s median rose by almost 5% during the final quarter of 1987 alone, and this level of growth continued right up until the early 90s, with the median more than tripling to reach $104,597 by December 1992.
The market then stays relatively flat, with Malua Bay’s median only increasing by $7,914 over the next 14 quarters. The September 1996 quarter however sees a 3.8% jump in median price, and this heralds a return to more consistent price increases right up until March 2004.
The following four years show some turbulence, but Malua Bay’s short spikes and long flats underlie a general positive growth trend. That is until the GFC tremors are felt, causing the median to topple by $18,491 between March 2008 and March 2009.
Just twelve months on however, Malua Bay’s median reached a new high of $423,025, and by September 2010 had reached $425,935. Raine & Horne Batemans Bay licensee Adam Porteous believes that the suburb’s excellent location is the key to its long-term success.
“Nearly every home will have an aspect to the water. Prices have continued to improve primarily because whenever anyone moves to the coast, they want to either see the water or be able to walk to the beach,” says Porteous.