Is anyone familiar with the area?It is my home town and has seen some huge growth in house prices although that has stabilised in the last few years. A house worth $160,000 in 2001 hit close to $400,000 in 2005 although that same house today would be worth about $350,000 .Anyway my question is what do you think a major road project would do for the area. Link road 92 is being built which is a more direct route to canberra instead of heading 1 1/2 hours south or going over a mountain north basically cutting hours of the trip. Currently there is a sealed road from canberra to batemans bay further south which has a population explosion on weekends as people from the act head there. And becouse of this the place has expanded quite rapidly. Do you think this will happen in the shoalhaven area ie Nowra once the road is built. Road infrastructure seems to be a major contribition to house prices and this one would be a big one giving a direct seal road axcess for canberra locals to nowra and the surrounding coastline.What you think?
Hi Devo76. I think regardless of what happens as far as roads and other infrastructure, there is some good growth potential in both Nowra and Batemans Bay. The property valuations for the area I ‘may have’ seen recently indicate that the pricing has plateaued and has in fact started to make a bit of a recovery. There is also a bit of first home buyer activity of late in particular (at last!) as I am guessing with interest rates still comparitively low, and pricing appearing to be as low as it is going to get in a while, there is the ‘it’s now or never attitude. ‘ It will be very interesting to see Nowra RE prices in the next few years. All the best with your next purchase. [strum]
Thanks for the reply. Yeah the now or never attitude affected me too as i dont think the area is getting any cheaper.And with its new proximity to the nations capital after the road is finished as well as the exsisting navy base. It has a lot going for it. Its a beutiful area on the coast including jervis bay.With coastal villages and a mountain range all around its a top spot. It has a lot more growth ahead of it i believe.
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