Is the coastal property market actually in the doldrums?

Easymix

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Friday, December 16, 2011 11:03 AM

There have been quite a few media articles recently about the dismal coastal property market. Is this the case? Is there light at the end of the tunnel?

Once again the there has been a number of articles in the media indicating that the coastal market is in the doldrums. It is fair to say that the coastal market has definitely had a very difficult time of late.

This is primarily due to owners rationalising when the recession hit, deciding that they could no longer afford addition non-income producing assets.

At Kellands we are starting to see some light at the end of that tunnel, and have recorded some good sales in the past few months. This indicates that there are now purchasers looking to buy. As prices have likely hit the bottom, if you are looking to buy, not is a good time.

Long-term, coastal real estate serves two purposes. It provides a long-term appreciating asset, but more importantly it often provides a place for families to gather, memories to be made and a legacy for future generations. Priceless!