Batemans Bay Property News.
14th November 2008
Two new businesses have opened this month in Orient Street. Print Central at the front of the CitiCentre building and a mens hair dressers has moved into the street front shop at Centre Point Blue, (next to Cafe Blue), opposite the Batemans Bay Police station and court house. Batemans Bay's main street steadily filling, with new businesses attracted to Batemans Bay as the only coastal Regional Centre south of Wollongong.

November 2008
First home buyers in NSW who qualify for the First Home Owner Grant and are buying a newly constructed home or building their first home will be eligible for an additional $3,000 payment known as the NSW New Home Buyers Supplement.

The $3,000 New Home Buyers Supplement is in addition to the $7,000 First Home Owner Grant and the Australian Government’s $14, 000 First Home Owner Boost. With the NSW Government’s New Home Buyers Supplement Scheme, first home buyers of new homes will receive maximum benefits of up to $24,000.

Both the First Home Owner Grant and the New Home Buyers Supplement are fully funded by the NSW Government.

5th November 2008
The reserve bank drops offical interest rates 0.75%. This will decrease deposit rates and encourage the small investor/self managed superfund, back into the residential housing investment market.

18th October 2008
When Term Deposit Rates drop below the magic 6%mark,
investors look to buy rental property.
(The CBA's best Term Deposit Rate is currently 6.5%.)
www.commbank.com.au

Recent increases in rents, the lowest vacancy rate for rental accommodation on record, decreases in property prices and mortgage rates , there is no doubt that these factors will start to stimulate investor to return to property.

The recent increase to the first home buyers grants to $14,000 for established homes and $21,000 for new homes will bring back the first home buyer market, particularly the Generation Y buyer (20 to 30 year olds) who have not been living at home or trying to find rental accommodation.

24/10/2008
Constrution work at the former Eurobodalla Christian School site in surfside should start by the end of the year. The $12.5 million redevelopment project will provide a combination of low-care and high-care accommodation for aged people including a 16 bed dementia facility.

14/10/2008
Batemans Bay will get the flow on from First Home Buyers Grant increases.
Prime Minister Rudd has just announced that the first home buyers' grant is to
double to $14,000, and then increased again to $21,000 if buyers purchase newly constructed property.
Although Batemans Bay does not have a large first home buyer market, most of the our residential purchasers do need to sell first before buying in Batemans Bay. The first home buyer grant should help stimulate turnover in the markets where our buyers come from.

1/10/2008
A major boost for the local economy year round.
The final plan for the Centrelink Innovation Centre have been approved in principle by the developer, the Batemans Bay Soldiers Club. The call centre is expected to generate 240 jobs in town with most being filled by local staff. The project is expected to be finished by the end of 2009. The increase in employment will go a long way to diminish the impact of the winter off season to Batemans Bay's economy.

28/09/2008
Residex Sunday Telegraph 28th of September 2008
"Malua Bay real estate is predicted to increase more than 5% per year over the next 5 years."
The predicted increase in land values in the Malua Bay area are a direct result of the opened Batehaven-Surf Beach By-pass and the diminishing supply of land along the coast.

19th September 2008
Interest rate cut has produced a 6 month high clearance rate at last weekends auctions in Sydney. This is good news for the Batemans Bay property market as people wanting to retire to Batemans Bay generally need to sell their home first.

8th September 2008
The New Batehaven - Surf Beach Bypass (Bay to the Beaches) was offically opened today. If you turn at the Batemans Bay High School you will arrive at Lilli Pilli. Most of the road is 80kph, no more slow trips along the coast road past the bottlenecks at the Batehaven and Surf Beach shops. The by-pass is expected to increase demand for property in the Lilli Pilli and Malua Bay area.
The by-pass will half the travel time to the ocean beaches.

2nd September 2008
Mortgage borrowers got their long-awaited rate relief today after the Reserve Bank cut the interest rate, its first reduction in nearly seven years.
Another interest rate cut by the RBA is expected in October.
The reduction in offical interest rates, along with the price of crude oil heading towards $100pb, has taken the pressure off emotionally stressed households around Australia.

28th August 2008
Buy now before land prices increase.
Land prices are predicted to increase dramaticly due to the influx of Baby Boomer retirees from Canberra over the next 3 years.
The additional population will create a residential land shortage between Durras and Broulee. It is predicted that this 50 kms stretch of "Canberra's Coast" will be fully developed within 5 to 10 years. There is no more freehold land available, landlocked by State Forest, National Park and the ocean.

8th August 2008
Buy now.
"A growing number of economists predict the Reserve may reduce interest rates starting next month, with up to 0.5 percentage points cut before year's end. The Reserve indicated this week that it felt it had choked off the rise in inflation, leaving scope for lower rates."

30th July 2008 ~ Bay Post news
A recent survey by Tourism Research Australia showed that 87 % of visitors surveyed said they would recommend Batemans Bay to their friends and a massive 60% said they would return to Batemans Bay for another holiday within a year. The main expectations of visitors were "relaxation and rejuvenation" (91%) "quality time with partner/friends/family"(83%) and "opportunity to tour around and explore" (72%)

27th July 2008
Good news, the intersection of Crosby Drive and the new George Bass Dr, "Bay to the Beaches By-pass" has been opened. This is the next step towards the completion of the By-pass. The Surf Beach Ave cut has been completed and the round about at Newth Place is nearing completion with the concrete kerb being put in place this week.

18th July 2008
Stockland have confirmed that they have sold their 2 Batemans Bay shopping centres for $85 million, to the NSW Local Government Super Scheme.

4th July 2008
Grand Mercure for Batemans Bay
The owners, MGR Developments confirm that a new $24m Grand Mercure resort is due to commence construction in early August 2009. Pre-sale targets where reached in January this year. Completion is expected by Christmas 2009. Verve Hotels will manage the resort.

27th June 2008
180 Staff Centrelink Call Centre.
Federal member for Gilmore Joanna Gash has received confirmation that the Centrelink Community Innovation Centre planned for Batemans Bay will go ahead. The initial estimates are that the Centrelink Call Centre will create 240 new jobs.
Completion is expected by mid-2010. The centre will give a major boost to the local economy and reinforce Batemans Bay as the south coast's regional centre.

June 2008;
"Bay to the Beaches By-Pass" is due for completion at the end of August 2008. The by-pass will take most of the through traffic off Beach Road between Batehaven and Surf Beach and and is expected to influence property values in areas such as Lilli Pilli, Malua Bay and along Beach Road.

June 2008;
One of the last remaining land releases, and arguably the best land in the Lilli Pilli area, Warragai Place is now selling. www.maluabay.com.au/warragai

June 2008;
Unusually steady sales enquiry is being experienced by most real estate agencies over this winter.
High interest rates and fuel prices has not deterred enquiry for over 55 year old lifestylers, mainly from Canberra.

June 2008; The Batehaven - Surf Beach Bypass (Bay to the Beaches) is due for completion by the end of August 2008.

June 2008;
"Canberra's retirees are on the move to the coast again. The Canberra property market has now peaked, renewing Canberra retirees interest in moving to Batemans Bay. Close to family and friends, a relaxed coastal lifestyle, low cost of living and a great climate, being Batemans Bay's main attactions."

May 2008; Bunnings Hardware and Harvey Norman are expected to establish regional stores on the new industrial site at the Surf Beach end of the new bypass, "Bay to the Beaches".

April 2008; the new Batemans Bay Marina plans and public consultation commence. Ariadne expects to start construction on the 250 new wet berths, 250 dry storage berths and resort complex in early 2009. The development is expected to generate 80 new jobs. www.ariadne.com.au

January 2008;
New 180 staff Centrelink Call Centre to be built in Museum Place Batemans.
Construction is expect to commence in early 2009
Local agents expect the influx of 180 public servant jobs will boost all sectors of the Batemans Bay economy.

December 2007
Construction has commenced on a 92 Bed Residential Care Facility "The Glen" located in Correa Place Catalina. The $15 million dollar facility is being developed by local developer John Wakelin, and has been designed by local Architects Edmiston Jones. The project reinforces Batemans Bay a retirement destination.

December 2007 Land shortage?
"In 10 years you won't be able to buy land in Batemans Bay because suitable residential land between Durras and Broulee will be fully developed."

The Batemans Bay property cycle.
" Over the past 40 years, the Batemans Bay area has experienced 10-year property cycles - The peaks of the Sellers Market in Batemans Bay where 1981, 1991 and 2001; therefore 2011 will most likely be the next peak."

The best time to buy is at the bottom of the buyers market. This has previously been in 1988, 1998, therefore I it is reasonable to predict that 2008 is bottom of the current Buyers Market.

The Big Picture
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Geoff Payne AAPI AREI
PO Box 500 Batemans Bay NSW 2536
P 02 44 725000
M 0418 428398
F 02 44 725144
E geoff@geoffpayne.com.au

Geoff Payne Real Estate
Shop B2 Stockland Perry Street Batemans Bay NSW 2536
Open Monday to Friday 9am to 5pm
website www.baypro.com.au

Geoff Payne AAPI AREI, is a property valuer, real estate agent and land economist. Geoff has been operating in the south east region of NSW and ACT for over 30 years.

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