Why Alstonville is such a good choice for home buyers
PERCHED high on the plateau, the pretty village of Alstonville has been one of the region's best performing suburbs over the past 12 months.
The median house price has edged up to $567,000, which amounts to capital growth of 15.7% growth year-on-year.
The increased demand is also reflected in average days on market, which has reduced to 50 days from 69 days in 2017.
Over the past five years, Alstonville has seen capital growth of 43.4% in houses, driven by strong demand in town and higher prices on the coast that are having a ripple effect.
Even so, Alstonville remains relatively affordable compared to its neighbouring suburbs on the coast.
Tucked in between the sea and the rainforest, the town enjoys an enviable position - it's less than half an hour from Ballina and the coast, but it has a quiet semi-rural feel and scenic surroundings.
It has escaped the hipsterfication that's taken over so many other Northern Rivers towns, but it does have some lovely cafes and restaurants, a shopping centre, and a monthly community market at the Showground selling tropical fruit and fresh veggies and arts and crafts.
The historic Federal Hotel in Main St, affectionately known as 'The Feddy', has been a meeting place for the community for more than 100 years, and has a beer garden, good pub grub and live entertainment.
The Alstonville community loves its sport - sporting teams in the town include soccer, cricket, rugby union, hockey, AFL and tennis.
The town is well serviced with sporting facilities including the Geoff Watt Oval and the Alstonville Aquatic Centre, which recently underwent a multi-million dollar upgrade.
It now boasts s a FINA compliant 50m heated pool with eight 2.5m wide lanes for competition swimming and water polo, a 25 metre heated enclosable pool for swimming lessons, children's play, lap swimming and rehabilitation and a wet splash play area.
Alstonville also has two primary schools and a high school.
Elders Alstonville principal Troy Macrae says Alstonville tends to attract coastal buyers looking for a tree change, locals downsizing from rural properties, and capital city purchasers looking for lifestyle properties.
He says the town has real mix of housing - original properties, renovated properties and new builds. Older areas with homes on large flat blocks with side access are always in high demand, as are free standing duplexes and new builds offering low maintenance yards.
Property is tightly held in this community, with an average hold period of 11.6 years.
Mr Macrae says rental demand in Alstonville is particularly high, and with a healthy gross rental yield of 4.1 % it's a good investment option.
"Elders manage over 300 investment properties and currently have a vacancy factor of zero,” he said.
BUY VS RENT
3 months: 1.3%
12 months: 15.7%
3 years: 27.7%
5 years: 43.4%
10 years: 4.1%
Days on market: 50
Hold period: 11.6 years
Rental yields: 4.1%
Household income: $1069
Median age: 50
Days on market tightened up