Dreaming of beaches (and not spending an hour finding a park), less traffic and a slower pace of life? Now might be the time to act. New data from Cotality, a housing market analytics company, shows a handful of NSW coastal towns have a lower median value than three months ago, as regional property growth finally falls behind the pace of the capital cities – for the first time in nine months. Experts say the drop is due to a mix of factors: this year’s interest rate cuts, a correction in regional markets after COVID’s inflation surge, and the faster pace of price growth in capital cities.
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If you’re after a sea change, homes in Ulladulla – loved for its idyllic harbour and fresh seafood – are down 1.8 per cent over the past three months. Further north, homes in holiday-coded Byron Bay have seen a drop of 1.7 per cent, while those in Forster-Tuncurry are down 1.5 per cent. If you’re keen for more of a green than blue sea change, values fell in NSW’s Bowral-Mittagong region, down 0.5 per cent. Hello, more tulip admiring and antique shopping.

Speaking about the drop in Byron’s homes, Cotality Australia economist Kaytlin Ezzy says: “It arguably saw a bit of an overinflation in price over the COVID period and we have been seeing a correction for a while now. Same with Bowral–Mittagong, we had seen values really push and we’re seeing some correction there.”
Overall though, Ezzy reckons the prices of regional homes will rise this spring, due to this year’s interest rate cuts and city-slickers wanting a sea or tree change – hello, it’s us. So if you’re keen to dip a toe into home ownership, now’s the time.
Regional towns seeing property values dip:
- Horsham, VIC – $384,985 (-2.4% quarterly, 2.9% annual)
- Whyalla, SA – $279,511 (-2.2% quarterly, 9.9% annual)
- Ulladulla, NSW – $956,193 (-1.8% quarterly, -3.6% annual)
- Swan Hill, VIC – $447,679 (-1.7% quarterly, 1.1% annual)
- Byron Bay, NSW – $1,821,579 (-1.7% quarterly, -4.9% annual)
- Port Pirie, SA – $289,493 (-1.5% quarterly, 14.9% annual)
- Forster–Tuncurry, NSW – $755,474 (-1.5% quarterly, -1.4% annual)
- Broome, WA – $581,656 (-1.4% quarterly, 2.7% annual)
- Port Lincoln, SA – $486,601 (-1.3% quarterly, 13.9% annual)
- Morisset–Cooranbong, NSW – $904,192 (-0.9% quarterly, 4.8% annual)
- Launceston, TAS – $548,793 (-0.8% quarterly, 0.9% annual)
- Bowral–Mittagong, NSW – $1,148,492 (-0.5% quarterly, -2.1% annual)
- Portland, VIC – $401,911 (-0.4% quarterly, 5.0% annual)
- Goulburn, NSW – $594,667 (-0.3% quarterly, 4.4% annual)
- Sale, VIC – $416,880 (-0.1% quarterly, -1.2% annual)