Fiona Weir Walm­s­ley

Country Style - - ON THE MOVE GERRINGONG NSW -

MEDIAN PRICE Prices can range from $815,000 for a three-bed­room house, up to $950,000 or more for four bed­rooms. MEDIAN RENTAL PRICE $550 a week for a three-bed­room house.

LOWS AND HIGHS “Ger­ringong is a largely sea­sonal mar­ket, with an in­flux of visi­tors who boost en­quiries in sum­mer,” says Angie Ritchie, direc­tor and prin­ci­pal of Zest Real Es­tate, Ger­ringong. “There are no op­por­tu­ni­ties for new builds at present, with no land de­vel­op­ments in the near fu­ture — this cre­ates a lack of sup­ply, which pushes up de­mand.” MAR­KET WATCH “The ma­jor de­mand in­flu­ence at this point is fam­i­lies mov­ing here from the cities,” Angie ex­plains. “Ger­ringong is a com­mutable dis­tance from Syd­ney, so you have a case of the bread­win­ner work­ing in Syd­ney two to four days a week, and the rest of the fam­ily en­joy­ing the ben­e­fits of the Ger­ringong life­style. The other in­flu­ence on prop­erty de­mand are peo­ple look­ing to re­tire in the fu­ture, but get­ting their foot in the lo­cal mar­ket now. They will buy a home and lease it out for a num­ber of years be­fore they ei­ther ren­o­vate and move in them­selves, or knock it down and build their dream home.” zestre.com.au

OWNER OF BUENA VISTA FARM Ger­ringong born-and-bred res­i­dent; has lived here with her own fam­ily for six years.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.