Real estate in the coastal town of Kiama has skyrocketed since Covid and the cost-of-living crisis.
Kiama resident Peta Priest said that real estate prices are at an all time high across the region.
“I have been in Kiama for over 30 years and have never seen the prices for the area so high before,” she said.
Ms Priest has blamed an increase in tourism and wealthier residents for the rise in real estate prices.
“Kiama is no longer a town for me, a local, but rather the blow-ins. My children can’t even afford to live here,” she said.
According to Domain, the median price for a three-bedroom home in Kiama is $1.235m.
Retired real estate agent and former council member Warren Steel said Kiama was dependent on tourism.
“Kiama is reliant on tourism, the market is driven by people looking to relocate or buy a holiday home,” he said.
Mr Steel points out that available homes sell for well above the asking price.
“It’s great for the local economy but it’s changing our community,” he said.
Mr Steel said it was a balance between the perseverance of community life, tourism and a growing population.
