Sydney babyboomers are starting to shift down here for their sea-change.
- Adam Porteous
Batemans Bay has been ranked third on a list of Australia’s top property investment suburbs.
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The Residex national report predicted those suburbs most likely to have the highest capital growth in the next eight years.
Tuross Head was ranked ninth on the list and Moruya was 48.
Long Beach was ranked at 51 and Narooma at 60. No other Eurobodalla suburbs made the list of 109.
Returns on investment per annum were predicted to be:
- Batemans Bay 8.29%
- Tuross Head 8.03%
- Moruya 7.17%
- Long Beach 7.11%
- Narooma 6.96%
The suburb with the highest predicted capital growth in the country was Gordon, in the ACT, where house values were predicted to grow, on average, by 8.4 per cent each year.
Batemans Bay realtor Adam Porteous was unsurprised at Eurobodalla’s high ranking.
Canberra had been a steady source of investment, but the region was attracting increased attention from Sydney.
“We’ve been a hidden gem; Sydney baby boomers are starting to shift down here for their sea-change,” Mr Porteous said.
“Milton and Ulladulla prices are through the roof,” Mr Porteous said.
He said the Eurobodalla had not seen capital growth for ten years.
“We have significant infrastructure programs underway in the region,” he said.
“All these factors are attracting the Sydney money and I think that is what is driving these growth predictions.”
Nationally, investors account for half of property purchases, affecting the rental market. Page 4: Our rental crisis.
