'If we’re not doing well here, nobody will be': The northern NSW towns weathering the downturn

Despite all the talk of faltering markets, two northern NSW towns seem to be weathering the storm.

Kingscliff and Casuarina sit side by side close to the border of NSW and QLD. As of the 2016 census, they had a combined population of just over 10,000 people. That number has shot up in recent years, and local agents think it will continue to rise.

Lorna Savage has lived in Casuarina for 17 years — in fact, she bought the fourth property to go on sale there. She’s also the principal of LS Properties and has worked as an agent in the area for almost 10 years.

“A lot of my buyers come from Melbourne and Sydney,” she said. “When I reflect on what I hear from them, that those markets are down by as much as 20 per-cent in certain areas, we do not see that in Casuarina.”

“We see a more steady market simply because the demand for where we live and the infrastructure that’s here and coming is on the increase. I think that’s created huge stability for us.”

Despite this, Ms Savage believes the country’s general downward trend is having some negative effects on the area.  

“Because the buyers coming into our market are having a tougher time selling their homes, and obviously bank finance has tightened up considerably over the past year, that is, in turn, slowing our market down in terms of the number of buyers in the market available to buy,” she said.

“We have had a few contracts fall over because finance or whatever reason has fallen through. So you’ve got to believe it has an impact, although it’s not very evident in the numbers.”

She says the biggest demand is for the newer properties that are still being built in the area.

“Those new homes are the ones that are really starting to pull ahead and get better numbers,” she said. “Or older stock that’s been remodelled and maintained.”

Wallabies rugby star Scott Higginbotham recently snapped up a block in Casuarina Beach’s latest land release and his young family plan to make the community a home away from home.

The final beachside homesites at Casuarina Beach are now selling, with lots positioned less than 100 metres from the beach, Casuarina Village Shopping Centre and, importantly, close to the Casuarina rugby fields, selling from $545,000.

Mr Higginbotham said his parents bought a house at Casuarina Beach in early 2018, which paved the way for his land purchase.

“I started visiting a lot with my wife Madeline and son Aubrey, and we decided it was where we would like to spend our weekends and holidays,” he said.

“I love the community feel, and the surrounding beach suburbs are a huge attraction. Growing up on the Gold Coast, I was always used to beaches being busy, so Casuarina’s beautiful uncrowded beach really appeals to me.

“Casuarina Beach will initially be our holiday home, as we currently live in Brisbane, but as time goes by more and more of our life will be spent down there.”

And it seems he’s not the only rugby player who’s discovered the area – Higginbotham’s house is next door to Wallabies prop James Slipper and a short walk from Wallabies lock Rob Simmons.

Paul MacMahon is the Principal at LJ Hooker Kingscliff. He’s worked in the area for 30 years, and says despite “crazy prices” during the GFC in 2007 and 2008, he sees the area maintaining strength in the coming months.

“It hasn’t seemed to have affected our market yet, so that means prices are still firm,” he said. “It probably means that instead of having half a dozen buyers for the property you want to sell, you’ve only got one or two now.”

He says interest is coming from a wide range of demographics, but it is all for the same reason: lifestyle.

“You get a lot of the Baby Boomers that are retiring and coming here, and it’s lifestyle driven,” MacMahon said. “They’ll generally like to buy something where the kids and grandkids can visit. Probably not big enough that they can stay too long.”

“But also you’ve got a lot of families. A lot of families that are second time [home owners]. It’s pretty well across the board, your retirees and your families.”

MacMahon also said the future looks good for the area, with several significant developments and critical pieces of infrastructure on the way that will drive growth.

“With the [LNP] being re-elected in NSW, it means that the hospital here will go ahead now and that’s going to have a dramatic effect on the market,” MacMahon said.  

“About 800 people will be employed to build the hospital, and that’s through to 2022. Then we’ve got 4500 people to work in the hospital. It’s a huge thing in a market like this.

“It’s just such a desirable place to live. To live here, you just feel like one of the luckiest people on the planet. If we’re not doing well here, nobody will be doing well.”