Ballina Tipped As Boom Town

Sun Herald

Sunday March 18, 2007

By ELLEN LUTTON

BALLINA has been identified as a bargain coastal hot spot expected to experience extensive growth in the next couple of years.

Recent research by PRD Research found property prices in the northern NSW beach town have jumped by 9.3 per cent in the 12 months to September 2006.

But the research also found that the bulk of transactions during the last quarter of 2006 occurred in the $300,000 to $399,999 price bracket.

PRD's franchise research manager Jonathan Rivera said Ballina, 190 kilometres south of Brisbane, was still affordable.

"Ballina is only another 20 minutes further south of popular Byron Bay, yet there is certainly a difference in the price of housing," he said.

Mr Rivera said Ballina and nearby Lennox Head were recognised as key growth areas, particularly due to planned extension work to the M1 motorway (south of Brisbane).

"When the M1 extends further down you're going to see Ballina get more and more popular," he said.

A number of new developments, including the Outrigger Hotel, were indicators that investors were preparing for marked growth, he said.

A check through domain.com.au shows the low starting price of homes in the area, such as 9 Sweetlip Place; a three-bedroom, one bathroom brick home situated in a quiet cul-de-sac. It is listed at $325,000.

Mr Rivera said there were a lot of contemporary designed homes to cope with growing interest from empty nesters and retirees.

© 2007 Sun Herald

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