by admin | Sep 17, 2025 | business, economics, local news, real estate, real estate market
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Panic-driven vendors offer significant price reductions
Lifestyle shoppers are encountering a tough truth as the previously sought-after rural retreats of Bowral and
Byron Bay
turn into some of Australia’s most difficult sales.
Recent information from Cotality shows that the real estate scene in Bowral–Mittagong, known for its local charm, is becoming among the most challenging to sell, with purchasers passing up on traditional wooden houses and impressive historic properties.
Once a popular destination for those seeking a rural lifestyle, this area is now experiencing a sharp decline, as properties remain unsold for an alarming average of 77 days—the longest in regional areas.
NSW
as anxious vendors offer an impressive average reduction of 5.3 percent merely to finalize a transaction.
In Byron Bay, property sales were challenging, as houses remained listed for an average of 68 days and saw seller price reductions approaching 6 percent.
Australian economist Kaytlin Ezzy stated that only three areas experienced falling prices throughout the year, with the Bowral-Mittagong area in the Central Highlands showing the biggest drop.
The charming rural property market experienced notable expansion during the initial phase of the pandemic surge, yet this increase led to the area becoming the priciest market, second only to Byron Bay and
Sydney
“the third most expensive market nationwide,” she stated.
The high cost, along with standard listing rates and lower-than-normal sales, has created downward momentum in prices.
The average cost of a house in Bowral-Mittagong stands at $1.15 million, whereas Byron Bay has a value of $1.8 million, reflecting a decrease of 23 percent from its highest point in April 2022.
In the Bowral-Mittagong area, several of the most challenging sales environments were observed, as homes remained listed for approximately 79 days, prompting sellers to provide an average reduction of 5.3 percent to facilitate transactions.
Byron Bay had an average of 68 days for properties to sell, with sellers reducing prices by almost 6 per cent, the largest drop among all regional areas in New South Wales.
Agent Michael Murray of Byron Property Search mentioned that seller discounts were mainly influenced by sellers setting prices according to peak values seen during the pandemic.
He stated, ‘Properties are struggling when they list them at an excessively high price.’
Assets valued at their fair market price tend to be sold rapidly.
Many individuals continue to view the funds related to COVID as permanent, and they haven’t recovered from the 30 percent increase; thus, we are still seeing the effects of many people believing their properties are valued higher than they truly are.
Mr. Murray stated that Byron had recently gone through a phase where he was not considered “the latest trend,” which affected property values.
“Occasionally, Byron experiences periods where people find it overly pretentious and costly, leading them to lose interest, but I believe we are moving past that,” he stated.
Mr. Murray mentioned that transactions in the middle-range real estate sector, which includes properties priced from $1.5 million to $3 million, are encountering challenging circumstances.
He stated, ‘The sole factors driving that market shift are the four Ds: death, debt, downsizing, and divorce.’
On the other hand, Lismore located in the Northern Rivers area of New South Wales emerged as the best-performing market among the top 50 regional areas, increasing by 4.5 percent during the quarter to reach a record high in July.
The community has fully bounced back from the almost 18 percent drop observed during the 2022 flood response.
Ms. Ezzy mentioned that the remaining members of the top five performers were varied, with only one regional market, Bunbury in Western Australia, appearing on the list—a notable shift compared to trends observed in recent years.
“Over most of the last two years, Western Australia and Queensland’s mining sectors have led in terms of value increases,” she stated.
Nevertheless, the pace has slowed down as the previous cost-effectiveness benefit these areas provided begins to fade.
Although they are no longer leading in terms of quarterly growth, Albany (23.1 percent), Geraldton (20.8 percent) in Western Australia, and Mackay (18.2 percent), as well as Townsville (16.7 percent) in Queensland, experienced the highest yearly rises.
Victoria secured the top seven positions on the leaderboard as sale numbers rose approximately 30 percent in Shepparton-Mooroopna, Ballarat, and Bendigo.
“Sales figures in Melbourne and rural Victoria have remained relatively quiet over the past few years because of less advantageous tax policies, population shifts, and alterations in housing availability,” Ms. Ezzy stated.
Despite starting from a minimal level, the increase in yearly sales indicates an improvement in market confidence, driven by favorable pricing conditions and potential for property value appreciation, which has revived consumer enthusiasm.
Read more
by admin | Mar 25, 2025 | investing economy, investors, money, real estate, real estate market
Throughout history, happiness has consistently been humanity’s primary aim, achieved through a thriving economy. A robust and prosperous economy increases people’s contentment, ensures their satisfaction, and enables them to fulfill essentials like housing, clothes, sustenance, and other obligations. As a consequence, governments worldwide embrace an economics model focused on welfare, where every financial, societal, and governmental structure strives toward this objective—a concept that resonates deeply with utilitarian ideals aimed at enhancing overall community wellbeing. Utilitarians support endeavors promoting happiness and discourage those causing distress.
Sustaining a vibrant economy demands considerable skill and commitment from tax officials and banking regulators alike. It should come as no surprise that Nigeria’s economy faces persistent structural issues and foundational problems. Over time, the nation’s finances have suffered due to various government strategies. Describing today’s economy as anything but sound wouldn’t be amiss, considering current conditions marked by escalating inflation eating away at buying power and trust among consumers; soaring joblessness rates; increasing levels of destitution; and significant discrepancies between imported goods versus exported ones.
The current government’s economic policies have worsened inflation. To address this issue, they implemented a strict yet essential measure by eliminating the fuel subsidy, which unexpectedly led to increased inflation and widespread food shortages. The primary concern for many individuals today is figuring out how to endure these financial upheavals—how and when will things improve? Despite ongoing economic difficulties, certain fortunate citizens manage to save extra funds or earn sufficient income to allocate towards investments after covering their basic expenses.
This article aims to assist potential investors and inform the general populace about why investing in real estate might be preferable over purchasing stocks. Several Nigerian investors from previous years lost everything due to stock market losses; meanwhile, those who chose property saw their assets appreciate significantly through rental incomes and rising values. Property investment stands as one of the safest options available because your asset remains valuable unless civilization collapses entirely. While returns on real estate aren’t always spectacular depending on factors like location and quality, they remain reliable, steady, and almost foolproof.
The purpose behind your investment dictates what kind of investment would suit you best. For short-term gains within one or two years, property investment isn’t advisable; however, it’s ideal for those looking towards long-term prospects. Should you aim for capital appreciation or steady streams of revenue, perhaps even leaving something valuable for your offspring, then property investment should definitely be considered. Rest assured, once committed to property investments, both your initial capital and overall investment remain protected indefinitely. With real estate, stability goes hand-in-hand. There’s virtually zero risk of losing these funds down the line. Essentially, putting money into real estate inherently suggests safety—tangible assets that you can physically hold onto, observe grow over time, and eventually transfer as legacies.
Investments in properties are likely to increase in value over time. Realty isn’t just associated with stability—it’s also linked to sustained profit-making opportunities. Property assets serve as protection against inflation since property prices generally follow an ascending trend. Additionally, these investments offer consistent earnings streams for owners and often match or surpass inflation rates through asset appreciation. Returns from realty aren’t fixed—they usually escalate annually alongside inflation levels. Many family dynasties owe their accumulated wealth to such holdings.
From cities across continents—Europe, North America, Asia—to various regions worldwide, urban landscapes have been reshaped largely due to developments in real estate. Yet, investing in this sector involves managing numerous elements, particularly within intricate markets like those found in countries such as Nigeria. Crucial aspects include pinpointing strategic locations: where you invest significantly influences outcomes. Whether situated in thriving downtowns equipped with planned facilities or developing neighborhoods poised for expansion, sites experiencing swift economic boosts typically generate superior yields.
A significant concern for investors to monitor closely is economic patterns and shifts. The real estate sector is intricately tied to the economy. For example, Nigeria’s economy has faced numerous ups and downs, including periods of recession and issues with security. These elements contribute to volatility within the economy, which subsequently impacts the real estate market—altering both property values and rental yields. Therefore, investors should pay close attention to the broader economic climate, carefully assessing when it might be prudent to exit investments versus holding onto them. Additionally, the legislative structure plays an essential role; robust regulations provide assurance and protection for all stakeholders involved.
Olaposi is an estate surveyor and appraiser located in Lagos.
SEE ALSO: Nigerian Real Estate Attracts Investors—Analysts
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