THE BEAUTY of Tuross Head is no longer a well-kept secret with the area becoming a hot favourite with people looking to move to the coast.
“I think we’ve finally been discovered,” said John Butterfield , Licensed Agent of Moruya/Tuross Real Estate.
Mr Butterfield said the local real estate industry had been booming over the last 12 months and was keeping pace with the strong sales trends seen in Batemans Bay.
He said the amount of Tuross houses sold this year had doubled on last year - with the sale of about 200 houses for 2001.
“Anything close to the ocean and beach with views is selling very well,” he said.
He said two bedroom houses close to the water on the lake fetched the highest price for 2001 selling for over $600,000.
“There’s been a 20-30 percent increase in house prices this year... the average price would be $170,000 for a three bedroom house.”
“Rental properties have been scarce over the last twelve months - it’s very tight, nothing is available, rent has become more expensive.”
He believes Tuross rents cannot rise much further than the current $160 per week for three bedroom houses because renters will no longer be able to afford it.
He said buyers this year had been a mix of people moving for a lifestyle change and retirees with more families moving to the area.
“It’s mainly people from Sydney moving here.”
“Most people want a three bedroom house with a double garage and a view.”
He most new residents were commuting to work at Narooma, Moruya and even Batemans Bay.
On the other side, the majority of those selling their houses are the elderly who are selling due to ill health.
“It’s very rare that someone wants to leave Tuross once they have been here,”
He said while real estate all over the coast was doing well, he expects the strong market will taper off next year as Australia begins to feel the effects of the world economic downturn.
Salesperson at Hallmark First National Real Estate at Tuross, Garry Robertson, also reported a large increase in property prices over the last four years, especially in 2001.
He said more enquiries had come in from people in Sydney, Canberra and Melbourne than they had properties to sell.
“It’s good for both sellers and buyers at the moment,” Mr Robertson said.
“It’s a seller’s market, but it’s good for the buyers because buyers are more confident in buying their houses in an active market when they can see houses are selling.”
“Three years ago we would have had 15 properties for sale at under $100,000 - now we have nothing for under $100,00.”
“There are no indications that the [boom market] is going to stop,”
He said the bottom price of the market would be about $125,000 put the average house price at about $160,000.
He said residents with higher disposable incomes who move to live in Tuross Head while running their businesses in the cities or commuting to work was on the increase.
“We’ll see more and more of them, we have a lot of people looking at that at the moment and trying to make that decision.”
He said those interested mainly wanted to sacrifice the benefits of city living for a lifestyle that would bring more safety, security and a non-polluted environment to them and their family.
THINGS are looking so good in Tuross that the Tuross Head Country Club is investing $1.4 million in extensions after reaching a membership of about 2,000 people.
“We’re expecting a very busy Christmas and new year period, the club is trading very well,” General Manager Barry Clynch said.
The extensions will see a new entrance added onto the front, a lift installed and new sports bar installed downstairs.
“The lift is particularly important for our more elderly members,” he said.
Big changes are also planned for upstairs during the start of the new year as the club will be extended about 14 metres out west to make way for new bistro, island bar, and club lounge areas.
The new dining areas will be housed by glass walls, looking out onto spectacular views of the lake and Tuross countryside.
The downstairs area will be transformed and once the second stage of the expansions an outdoor beer garden will also be adjacent to the new sports bar.
The dining areas will be refurbished and a new TAB gaming room and administration office will be built.
The renovations will be completed by local building company Edwards Constructions.
Mr Clynch said the works will be carried out until the end of May 2002, but there would be no disruption to services.
The club continues to have entertainment on Friday, Thursday and Saturday night with a courtesy bus running on each of these nights.
Email a friend