Knowing the Area
Buying, selling or investing in property is one of the biggest decisions you will make in your life, so having the background knowledge will help you make the right choices when going through the process. Knowing key location information about the property supply and demand in Eden and surrounding areas as well as median property prices, and demographics will to help you understand the lifestyle characteristics and what you can expect to pay or receive when buying or selling in these areas.
Population Demographic
The statistics show the largest percentage of people living in Eden and surrounding areas are:
- Established Couples and Families
- Older Couples and Families
- Retired Couples and Singles
Average Property Price
The median house price is the midway point of all the houses or apartments sold at market price over the space of a certain time as selected. To give you a better idea of what you could buy, sell or rent your property for, the annual median price for houses in Eden and surrounding areas between 2017 and 2018 was $460,000 and the annual median rental price was $430 per week.
Supply and Demand
30 years ago, in Eden, the town’s population sat at approximately 4500. However, as a result of the changing on fishing and forestry policies, the population was reduced to around 3000 around the 2000s, which was a population loss of over 30%. Over the last decade, the town has been regenerating itself and has regrown in population to over 3500 people. This is due to Eden receiving significant government funded projects such as the redevelopment of the port, which includes the cruise ship berthing facility project and the safe harbor project.
These developments combined with the lifestyle opportunities that Eden offers is creating a strong demand in the property sector. The supply of properties and land for sale has become limited as a result of local council’s current restriction on further residential land development. However, we are hopeful that they will soon recognise the growing need for land releases as Eden expands with the Harbour development. With the current lack of property and land supply, and the increased demand for real estate, selling in Eden is at an optimal time.