Cootamundra is giving major cities a run for their money offering “cheap as chips” properties, higher living standards and a transport hub.
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While the major cities have experienced steep declines in property values, a local property expert and a recent buyer said there is no need to worry about the regional market.
According to latest Australian Bureau of Statistics, national house price falls in major cities have fallen 0.7 per cent in the last year, equating to a combined $13 billion in value in the three months to July.
Real estate agent at Coota’s Landmark Harcourts Judy Boyd said Coota “never” experiences the highs or lows in property values like the cities.
“In recent times, we’ve felt pretty firm in our property market and it’s been really positive,” she said.
“We’ve had a good winter in terms of property sales, it didn’t slow down which is usually the case.”
Boasting a lifestyle of maintained parks and quality roads are just some of the elements that attract people to this region.
“The living standards and water rates are so much higher than the cities, it’s a better lifestyle,” Ms Boyd said.
“It’s not just cheaper in Coota, but it’s also a lot safer and lately we’ve had a few people move from the South Coast looking for a quieter lifestyle away from the high crime rates.
“Those passing through Coota have noticed the quality roads and parks and also the major rail link between Sydney and Melbourne is a massive bonus.”
Philip John Brown purchased a partly-renovated period home in Coota just over 12 months ago, because of the cheaper price tag.
“I only paid $137,000 and while I had some choice, I chose this property because it had a renovated kitchen and bathroom,” Mr Brown said.
“I bought in Coota because it was attractive in terms of the price and I also knew some people over here.
“I’ve spoken to a few people who have moved from Sydney and Wollongong to Coota, showing a good market here.”
The older three-bedroom and one bathroom home is one of a handful of properties asking for around the $150,000 price point.
Ms Boyd said the median property price has “risen a little bit” to about $220,000 to $230,000.
Mr Brown said he has noticed the price in the property market has risen, but saw this as a positive, as he has been applying for jobs in Canberra.
“I purchased just over a year ago and I’ve noticed that Ray White property prices have increased but I don’t see this as a bad thing, because if I want to sell my home, I could perhaps get a higher price for it,” he said.
