Hervey Bay Gossip

For some years now Hervey Bay has been one of the leading centres in Australia for population growth. Retirees have been coming here in droves to take advantage of the climate and the lifestyle.

Their migration has been financed by the sale of their homes in the major capitals, often at prices that were unimaginable when they first purchased those homes.

However that flood of people coming here may soon begin to wane according to new research by BIS Shrapnel. As the metropolitan property market begins to struggle more and more people are either keeping their homes or choosing to sell and move to less popular destinations.

The property market could fall by up to 10% over the next year and some economists suggest that it could go even lower. In the past such fluctuations have not impacted so heavily on regional growth centres like Hervey Bay but in recent years property prices here have risen to the point where prices are on a par with cities and so there is little financial gain in moving.

While that is bad news for Hervey Bay some inland areas are becoming more attractive and Toowoomba has recorded increasing residential construction figures over the last few months.

This entry was posted on Tuesday, December 6th, 2005 at 6:17 am and is filed under Property Development, Real Estate, Land Development, General News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.