Anti-development Policy Contributed To Popularity Of Coastal Region

Strong anti-development policy, shortages of stock and infrastructure improvements have led to property price hikes along Australia's northern NSW coast.
January 10, 2004, 11am PST | Abhijeet Chavan | @legalaidtech
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Shortages of housing and development stock, partially as a result of development limitations, have only contributed to the escalating demand for properties and increasing prices in Australia's Byron Bay, according to Demographer Bernard Salt. He suggested that the township could become a “lesson in social engineering” as the strong anti-development policy had only added to its increasing popularity and rising values which put properties only within the range of the wealthy. The “mini development boom and buyer frenzy” extending up the NSW north coast has also been fuelled by new and improved highways linking the region with the Gold Coast and Brisbane. Northern NSW coastal townships are described as offering not only an idyllic location with a green hinterland and beaches, but are now within commuting distance of these employment centres.

Thanks to Charlotte Fitzgerald

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Published on Friday, January 9, 2004 in Australian Financial Review
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