Go west for the growth in Clarence property prices
RAY WHITE Grafton licensee Ben Hottes doesn't need a study to tell him that Waterview Heights is topping demand and price increase over the 25 years.
"Everything in 2460 is in demand at the moment," he said.
However, the rural suburb of Grafton has topped a joint CoreLogic and Aussie Home Loans study tracking houses prices over the past 25 years, with the median price rising 432.9%.
"It's only a small area, and in that period a lot of that land has been subdivided and developed. Most of it used to be farming land," he said.
"Now I think people are looking for that lifestyle that is more than that average 650 sqm block - they're looking for that acre and that's what is out there."
Mr Hottes said also with recent blueberry farm interest in the area, it was a natural progression.
"Town is built out, and there's no real big developments, people will start to move out that way," he said.
"They are real lifestyle blocks, there are only a few other developments available, maybe Merton Mews and Ellandgrove, but they are getting built out as well.
"If a developer was looking to come to town and do a development they'd probably do pretty well."
A recent sale of a long-held motel in the area for $850,000 was another sign of the popularity and possible returns in the area.
"We had local people who took it on, the returns on the price were just a good match," Mr Hottes said.
"It had been with the current owners for 32 years, they wanted to go retire."
According to the report, four suburbs in the Clarence Valley make the top 20 in growth over the 25 years in the Mid North Coast, with Waterview Heights rated 9th behind Boambee in first place.
Yamba is 13th with 384.4% growth, while Lawrence is rated 14th and Iluka 19th.