Coastal markets to enjoy future growth

According to RP Data's national research director Tim Lawless, now is the best time for potential property buyers to grab a coastal bargain. Mr Lawless states that property buyers should take a look at the coastal regions while house prices are relatively low and competition subdued.

“Based on our findings, the indications are clear that this market is now turning. I believe that many of these lifestyle markets have seen the worst of times,” he said.

According to figures from RP Data, the number of home sales has increased by 37% since bottoming twelve months ago and the time it takes to sell a property is becoming shorter.

Mr Lawless said this turnaround in market conditions is coming from a low base and most coastal lifestyle markets still represent opportunistic buying. He believes that prices are still lower than what they were last year and the level of negotiation to be had by the buyer is still typically higher than what they would experience in the metro areas.

“The popular coastal markets are still much more affordable than they once were and market conditions are still in favour of the buyer. For these reasons now may be a good time to be positioning in the market for future growth,” he said.

We have a range of coastal properties available if you are interested in a 'sea change.' We have properties on the Sunshine Coast, Gold Coast, Palm Cove in Northern QLD, Mornington Peninsula in VIC and Mandurah in WA.