Real Estate Prices Falling in Capital Cities

But What is Happening in The Regions? 

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Property prices are falling in the major capital cities with a fall of 4.5 % being reported for Sydney housing prices so far this year. Rents in the capitals are also declining with reductions of 1.0% to 2.5% being experienced across Sydney. 

Whilst there are many elements that influence real estate prices, supply and demand are the fundamental drivers.  

In simple terms, when demand is high, and supply is low, prices will rise and vice versa. 

What does it mean then, for residential and rural property prices in our region when prices are falling in Sydney and the other major capital cities? 

The continuing trend of migration to the Mid North Coast underpins the demand side of the equation for property values here. 

Strong growth projections for Port Macquarie, The Hastings Valley and the Mid North Coast are driven by Tree Changers and Sea Changers seeking a better lifestyle for themselves, a more rural and less frenetic environment to raise their children and a more peaceful retirement. 

So, looking forward, it is probable that both residential and rural property values will be maintained and grow into the next decade and beyond.  

Drew Oliver 

Regional & Rural Realty