Port Macquarie

[stella 77]

Any ideas about buying in Port Macquarie. I was there recently and it seems like a thriving area with some reasonably priced units

 

[Propertunity]

You could read this thread: http://www.somersoft.com/forums/showthread.php?t=51634

 

[stella 77]

thank you for the thread. do you see anything changing in the near future in port regarding property prices

 

[Propertunity]

I'm not in the Port market on a weekly basis - so I don't know as well as I might. My suspicions are that since it is a big retirement area and that with plenty of available land and an oversupply of units, that there is no really big driver of prices at present.

 

[depreciator]

Yeah, I can't see any reason for prices to rocket up. Those reasonably priced units you saw would have been far less reasonable a few years ago. Property prices took a hit in Port, as they did in many coastal places. So you'd be buying in now cheaper than people did in the boom.
I'm up there for the last week of the school holidays. And I'll be up there again in the April school holidays. We use our unit a few times every year and let friends stay in it free. So it's a lifestyle thing more than an investment.
Scott