Batemans Bay - Growth prospects

From: Tom Moschitz


I'm interested to hear from anyone who has had experience with Batemans Bay, NSW property. Not knowing the area well I suspect that prices/growth are closely linked to that of Canberra and rental vacancy rates are on par with other prosperous country towns.
I've come across what would appear to be a good deal and while the intention is to use part of the property for personal holiday use I'd like to feel confident in some reasonable growth and rental potential.

Cheers,
Tom
 
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From: Bob Quiggin


Tom,

I was down there in January (and bought!) but the market is red hot. All the agents were claiming it was Sydney money flooding in. 2 years ago, a top apartment might have raised 350 to 400k - they had their first million dollar sale in December.

You have to look carefully, is the short answer. As for future growth, well, my crystal ball is as clouded as everyone else's.

Cheers,

Bob
 
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Reply: 1.1
From: Michael Croft


Hi,

We have property down there. It is very tied to the fortunes of Canberra and to a lesser extent that of Sydney. Agents have been saying for years that Sydney will discover the Bay - and will happen - eventually. When is anyones guess.

Retirees and holiday lettings are the order of the day, population goes from some 20,000 to 120,000 in the holiday season (xmas).

Growth? It's been flat for nearly 10 years and it has taken off lately ;-)

If I were buying I would buy within easy walk to a good (popular) beach and with a view and sea breezes if budget allowed.

regards, Michael Croft
 
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