Richmond-Tweed Heads Region, NSW, Fastest Growing Precinct in State |
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Written by REINSW Announcment
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Tuesday, 01 April 2008 |
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Data showing that population growth in the Richmond-Tweed region has been faster than any other part of NSW in the past two years is evidence that Australians are prepared to move in search of a better lifestyle according to the Real Estate Institute of New South Wales (REINSW). It also accords with the latest property prices released by the Institute, which show house prices in the area grew 11% in the last quarter - among the highest of any regional location.
Recent ABS figures show population growth in the region outstripped the rest of NSW in 2006-2007 to record a 1.3% increase. Sydney - the destination of the booming numbers of migrants coming to Australia - grew 1.1%, the highest figure since 2000-2001.
“The jump in the Richmond-Tweed area is due to more than natural growth,” said REINSW President Steve Martin. “The NSW-Queensland coast has always been associated with an enviable lifestyle.
“People are drawn to the area by the beaches, beautiful weather and the increasing employment opportunities offered in the Byron Bay area and across the border on the Gold Coast. Our agents tell us that homes that were selling for $350,000 two years ago are now going for around $100,000 more.”
“Part of the reason for the growth has been the opening of the eight lane highway linking northern NSW with the Gold Coast. As the numbers show, people now see the opportunity to pack up their old lives and move north in the expectation that they will be within reasonable access to jobs.”
“If there are any problems with this region it is that there is a shortage of land available for property development so demand is exceeding supply.”
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