Heads up for Moruya investors

Figures released by property analysts Residex show property values in Moruya Heads increased by 18.9 per cent in the year to the end of March, 2008. By comparison the median growth rate in greater Sydney was just 6.39 per cent.

Moruya Heads was listed at 10th in the top 10 non-metropolitan towns for property value growth in NSW.

There is a good reason for that, say Canberrans Melanie and Greg Akhurst, who picked up the keys to their new holiday home on Friday.

They had spent thousands holidaying in Moruya Heads over the past decade, and decided the purchase made good financial and spiritual sense.

“It’s a good investment,” Mr Akhurst said. Moruya was a regional service centre, with the Eurobodalla Shire Council, older people’s home and hospital, and other good facilities and community support.

“It’s got a range of commercial solid employment facilities which means any real estate investment in Moruya and Moruya Heads region is always going to be rentable by people with permanent income.

“It’s not overly built out, and it’s just nice.”

If he and Melanie chose to wind back their careers they could still find part-time work in Moruya and contribute professionally and financially to the region.

The lifestyle element was also a key consideration.

“I come down here for the spiritual side of things; I have my God moments when I’m walking along Shelley Beach. It’s my little bit of heaven,” Mrs Akhurst added.

They had many friends who regularly visited the area, and also hoped to give others use of the house who couldn’t otherwise afford the holiday.