Smart Buyers Order A Middy

Sun Herald

Sunday October 14, 2007

By Michelle Singer

THE Taree region has abundant natural assets that have long been overlooked by property entrepreneurs. But developers are realising the need for cheaper and more relaxed residential choices for over 55s and retirees on the Mid North Coast.

In NSW 13.8 per cent of the population is aged over 65 - a total of 905,775 people, according to the 2006 census.

In Greater Taree the percentage is even higher, with 19.3per cent of residents aged 65 and above.

While many developers have already targeted Port Macquarie and Forster as prime sites, a number have discovered Taree, on the Manning River, and its beachside neighbour Hallidays Point, 15 minutes' drive from Taree to the north and Forster to the south.

At Black Head Beach, Gordon Eacott, developer of Halliday Shores, has broken new ground with the opening of his partially built 200-villa over-55s development.

More like a five-star resort that would be attractive to any age group, the High Street project has attracted retirees from Sydney and Newcastle - mostly those in their late 60s and early 70s.

"It's very much got a wow factor when you walk in," a spokeswoman for the Halliday Shores sales office said. "It's beautiful the way it's set with the gardens and everything. "All the residents are very happy here.

"They like the idea that they can lock up and go on holidays and they're all around the same age - although they don't look their ages. They're all very active."

Three hours from Sydney, the development has just opened its $4million Shores Club that has a 25-metre, four-lane lap pool, spa, gym, games room and pool table.

"Most of the residents are from Sydney and the local area. I know they've looked at other places but once they've been here they come in and put down a deposit straight away," the spokeswoman said.

"Of those who are still looking, most have plans to move in the next 12 months.

"With the response we've had there's definitely a need for this sort of thing."

The increase in over-55s developments has been welcomed by the Greater Taree Council. Its development control manager, Bruce Byatt, said it was handling an increasing number of development applications for this type of accommodation.

He said Hallidays Point and Old Bar were popular with lifestyle accommodation developers. More traditional retirement villages could be found around Taree.

"We are an ageing population," Byatt said. "There's a market for that type of development. We have got one application currently with us, one proposed and three approved over the last eight or nine years.

"I think we have got all the planning side of things in place. This area hasn't been affected by the sea-change trend to the extent of other places. More people are discovering Taree."

Ray White Taree agent Raymond Logan said Taree was expanding and was earmarked for more growth.

"We see a few people retire to this area mainly because of the lifestyle, and it's a bit cheaper," he said.

The average Taree house price is $248,000. Units average $175,000 but Logan said villas in strata complexes could be bought for about $150,000.

© 2007 Sun Herald

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