The valuation firm Herron Todd White has issued its latest property clock, predicting trends and movement in the national property market. The clock puts Far North Coast at the “Bottom of the Cycle” suggesting its growth is about to start. The national property market is a patchwork quilt with some markets trending down and others up. Even in the the Northern Rivers region there is more splintering. I would put Byron Bay CBD at 8 o’clock, regional towns at 7 and top end rural and other LGAs (Lismore, Tweed, Kyogle etc) at 6 AM.
Byron Bay Real Estate
The local market seems to be taking a breather after a strong run over the last couple of months. Partly due to global economic concerns and national political upheavals which have distracted people. Other issues are that we have seen more listings, so less competition, as the tradional spring selling season sees more vendors enter the market. Politics and the economy have also distracted the rabid media machine which has focused less on real estate stories – often used a column filler in slow news days.
The graphic above is a useful tool to see the market and its fluctuations. The main take-home message is that the swings and roundabouts are perpetual and cyclical. The best strategy in an ever-changing market is “buy and hold” good property in a good location; Northern NSW is certainly one of those. The massive volitilty in the stock market will also push many wary investors back into the safe haven of property.