2 Shoalhaven suburbs flying under the radar
Although Shoalhaven’s property market has continued to grow in 2021, there are a few suburbs that have escaped the trend.
While property investors are likely familiar with suburbs like Huskisson, Hyams Beach, Culburra Beach and Currarong, locales like Erowal Bay and Cudmirrah are less well known but no less ripe.
According to Herron Todd White’s latest Month in Review report, the south coast region is becoming a more and more attractive holiday destination for out-of-town buyers from capital cities such as Sydney and Canberra as the roads and infrastructure are improving rapidly.
“Strong buyer demand, a limited supply of properties on the market and low interest rates have led this surge in property prices,” the report said.
Back in April, Raine and Horne reported that Shoalhaven’s property market was the best it had been in 40 years.
“Thanks to the successful rollout of the NBN, we have excellent internet connectivity, and this has enabled a new demographic and new generation of professionals to live and work from home in Mollymook, Milton, Ulladulla and surrounding suburbs and towns,” Tony Hopper, director of Raine & Horne Mollymook/Milton, said.
So far, coastal suburbs like Erowal and Cudmirrah have managed to escape this upward trend.
Although these options lack the infrastructure and gentrification of larger coastal suburbs, they’re still close enough to the beach and local amenities to offer many of the same benefits.
“There are suburbs nearby which are not as well known or high profile and often fly under the radar, however, offer good value for money and good potential,” Herron Todd White’s report noted.
“Properties in these suburbs come without the high price tag and high profile while also offering the coastal lifestyle.”
According to CoreLogic data, the median sale price of a house in Erowal Bay was $656,000 as of February. This puts it below the NSW median sale price of $708,000.
Cudmirrah is even lower, with a median sale price of $535,000 for a house in the suburb.
More from this writer:
-
FHBs should weigh the pros and cons before buying an apartment
-
Even experts agree that Australia’s property market doesn’t make sense anymore
-
Singapore is now the largest foreign investor in Australian property market
-
NSW’s new permit system locks investors out of Central Coast hotspots
-
Expats said to be the culprit behind price growth in premium suburbs
-
CoreLogic: Lockdowns might be bad news for spring, but conditions are right for a rebound
-
Australia’s construction sector said to be in ‘early stages’ of another boom