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The Great Lakes Region - An overview
Population
The Great Lakes area, covering an area of 3,373 square kilometres and housing a population of approximately 34 695, is located about two and half hours north of Sydney on the Mid-North Coast between Port Stephens in the South, Hallidays Point in the north and west to the beginnings of the Great Dividing Range.
The Great Lakes region has experienced significant population growth over the last 10 years. This has been dominated by an influx of retirees and 'sea-changers' and their families. Recent population projections suggest that this trend will continue into the foreseeable future.
Employment
Although agriculture remains an important contributor to local economic activity, Great Lakes can no longer be considered a 'Rural Based' region. A combination of retirees and 'sea-changers' has resulted in the transformation of the Great Lakes into a 'Lifestyle Region'. That is, an area that is attractive to for its proximity to the coast and the lifestyle benefits which this can offer.
Economic growth in Great Lakes has been driven by local service functions with the majority of new employment opportunities being generated in the service sectors, serving the resident and tourist population.
The dominant sectors of economic activity in Great Lakes are education, health and community services, the retail trade, accommodation, cafes and restaurants, agriculture, fisheries and construction; with education, health and community services, financial and business services and construction representing the highest growth industries.
Residential Property and Land
There is a great diversity of property available for the renter, buyer or investor in the Great Lakes area.
Costs of rental properties have remained steady over recent periods with the median rental cost for a three-bedroom dwelling remaining at around $230 per week for the past 12 months.
Costs of dwelling sales in the Great Lakes area have generally followed trends set in the metropolitan areas and there has been a slight fall in median prices over the past 12 months.
Commercial Property
The demand for commercial property in the Great Lakes varies across the region, and prices reflect the level of demand. Generally speaking, demand for industrial, retail and office space in Forster-Tuncurry is high, with surrounding towns and villages experiencing lower demand and therefore lower prices.
For current figures on population, employment and local industry go to http://profile.id.com.au/Default.aspx?id=252
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