Traditional holiday destinations within three hours of capital cities are reaping strong investment interest and strong growth in sales, The Australian Financial Review reported today.
One real estate agent from Batemans Bay revealed sales figures up by four times on past years’ figures.
According to The Australian Financial Review report, Michael McNamara of Australian Property Monitors believes the stock market’s weak performance will convince many investors to look to property – particularly at coastal locations.
“Many [investors] will think a coastal beach house might be a better place to park money at the moment than expose themselves to the vagaries of the sharemarket,” he said.
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