Two hours from Sydney on the New South Wales’ north coast in the Port Stephens area, overlooking Stockton Beach, lies Anna Bay.
This is an increasingly desirable destination for buyers with potential to be the next Byron Bay, Mr Harvey said.
“Anna Bay is a lovely little sleepy retiree holiday area with a surf culture,” he said. “We regularly go for holidays ourselves and we love it.”
Hotspotting director and founder Terry Ryder said the Port Stephens precinct was underrated and undervalued, with its proximity to Newcastle and Sydney being an advantage, along with a very strong economy.
“It is one of the loveliest coastal areas in New South Wales and has the potential to grow in value,” Mr Ryder said.
First National Port Stephens agent Rebecca Dean has been selling real estate in the area for 20 years, but over the past few years she has seen the whole demographic of the area change – especially in Anna Bay.
“It used to be a cheaper area, but now it’s the place where everyone wants to be – it has beaches and surf and it’s 20 minutes closer to Newcastle than the other side of Port Stephens,” Ms Dean pointed out.
“Port Stephens now has more modern shops, coffee shops and bakeries, while five, six or seven years ago there was nothing like that, which is driving growth.”
While the region is traditionally a holiday area, Ms Dean said more people were moving permanently from the city and working from home.
With higher demand has come higher prices in Anna Bay, but it’s still relatively affordable with a median house price of $770,000, following 18 per cent growth over the past 12 months.
Ms Dean said single-level family houses with no views but close to the beach, such as 42 Argyle Avenue, would sell for between $1.3 million and $1.5 million, while homes with views, such as a current duplex listing at 37 Ocean Avenue, can sell for several million dollars.
Coolum Beach, Queensland
The Coolum Beach precinct on Queensland’s Sunshine Coast has been underrated for a long time but is now starting to be targeted by buyers, and shows exceptional price growth potential as a result, Mr Ryder said.
PropTrack data found the median house price rose by 47 per cent over the past 12 months to reach $1.15 million, while units grew by 42 per cent to hit $675,000.
“It's much cheaper than Noosa to the north but has the potential to be as popular,” Mr Ryder said.
“It has lovely beaches and spectacular vistas looking north towards Noosa, with a growing café and restaurant offering.”
North Shore Realty Coolum principal Noel Mooney said Coolum Beach was still a little village, landlocked by the coast, national parks and sugar cane farms, but change was underway.
Mr Mooney said $1 million would buy a basic home that would likely be knocked down, with prices right up into the multi-millions for properties with views.
A three-bedroom unit currently for sale on David Low Way, across from the beach with views, has a price guide in the low- to mid-$2 million range.
“Many properties have really good million-dollar views, but we don’t have the million-dollar houses that Sunshine Beach does,” he said.
“It’s just starting to happen where people are spending the right money on building the house, too.”
South West Rocks, New South Wales
The New South Wales northern coastal town of South West Rocks, sitting on Trial Bay just an hour north of Port Macquarie and 30 minutes from Kempsey, is another of Mr Harvey’s picks to be the next Byron Bay.
“It’s really beautiful,” he said.
“It’s got a similar beach area to Byron Bay on the peninsula but has a 50-year younger Byron-type feel.”
Mr Harvey said the appeal of South West Rocks was that it’s further flung, being around five hours from Sydney, but that could also impact whether the area gains greater popularity.
Agent Ross Lindsay of Harcourts – The Rocks said the town was currently a smaller community than Byron Bay but had been rapidly growing since COVID.
Mr Lindsay added that there were subdivisions underway – several of which are sold out – to cater for a bigger population, as well as improvements to amenity, with new cafes opening and redevelopment plans for the shopping centre.
“Demand for real estate in South West Rocks is almost out of control – it’s really, really busy,” he said. “It was a really peaceful village but it’s becoming busier now.
“I think South West Rocks has been a bit of a secret for a while, but the secret is now out.”
PropTrack data shows house prices have grown by 14 per cent over the past year to a median of $600,000, while the median unit price is $435,000 following 29 per cent growth.
A three-bedroom, two-bathroom unit at 102/19 Gregory Street being marketed for sale by Mr Lindsay for $925,000 already has three contracts issued, which is testament to the strong buyer demand.
The home is in a central location just minutes from the town centre, beach, shops, cafes, and restaurants, overlooking Back Creek.
Article courtesy realestate.com 24/1/22
