Just returned from SA's own Surf Coast -Victor Harbor
This Coastal Market is in rehab and likely to be under some extreme debt stress & market pressure increases on sellers & their agents daily... besides a trebling of the listed property for sale in less than 2 years, this historically reputable strong hold of retirement & smsf-property based investment, a glut of apartments/development accumulated stock estimated at greater than a 1000 in a tightly held coastal strip, is now getting to a basket case situation....
as a holiday-tourism destination,with a normally high vacancy (often held for holiday purposes only basis) history, & dificult rent yields, it apears to me to be a market likely to behave like the Goldie-sunshine coasts that i understand have been smashed with large price redeductions...
Caveat emptor...Buyer beware...likely price pressures likely over the following 12- 18 mnths... and music to the robo bulls...ha, is that bargains, or cracks, are now there for the assuming "punter...
