Selected New South Wales coastal towns are set to boom, with affordability and lifestyle factors attracting investors.
With information from the ABS, RP Data Core Logic, RESIDEX and the NSW Government, DPN’s research team has identified that coastal cities are emerging as new growth areas, on the back of prohibitively expensive Sydney prices. Population booms and infrastructure projects are attracting investors to Ballina, Coffs Harbour and Port Macquarie.
With a focus on transport, medical services and retail facilities, Ballina is investing in sustained job growth and community infrastructure. In terms of transport, upgrades to the Pacific Highway from Ballina to Woolgoolga are 50 per cent complete. The upgrades have already had a positive impact, with regard to road safety and travel times.
A $6.9 million investment in the Ballina District Hospital is underway, including medical imaging upgrades, a state-of-the-art operating theatre complex and staff services. Job growth is set to soar, with approval for a $30 million shopping centre in the Epiq community of Lennox Head.
Recreation, hospital upgrades and investment in the arts contribute to Coffs Harbour’s population boom. State Budget funding will see a $38 million upgrade to the Coffs Harbour Hospital, increasing medical services for the community.
The Coffs Coast Regional Sports Hub is set to expand, with $10 million in State Government funding. With the Jetty 4Shores project taking out top honours in the Australian Institute for Architects NSW Country Division Awards, the results are already evident.
The Charles Sturt University development is leading the way in attracting tertiary students and young families to Port Macquarie. Currently, the $40 million stage two expansion is projected to increase student numbers by 840.
Transportation improvements include a $9.875 million upgrade to the Port Macquarie Airport Terminal Building, funded with a $5 million contribution from the NSW Government and $1.25 million from the Australian Government. The first stage of retail hub, Sovereign Hills Estate Town Centre, is underway, providing community services and job growth.
Other coastal cities experiencing rapid growth include Newcastle, Geelong, the Sunshine Coast and Wollongong, with investors reporting good results in recent years.
For more comprehensive information on the property investment potential in these areas see DPN’s article: Coastal Property Hotspots: where the investors are buying.
You can contact DPN for investment opportunities in Ballina, Coffs Harbour and Port Macquarie.
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