The Australian - June 24, 2008

Property Tip: go unkown coastal
Florence Chong

THE national property market has been rattled by the Reserve Bank's campaign of interest rates rises, but experts insist well-located properties with water views remain as safe as an investment in blue-chip shares.

..... Jonathan Rivera, Colliers state director of residential research, said prices for these properties had continued to rise in the past year despite the sluggishness in the wider market.

...... Mr. Rivera suggested investors looked to emerging coastal communities that might not yet have all of the fundamentals.

He said Cardwell, in far north Queensland, was a good example of an emerging market.

The town, about two hours from Townsville, was poised to benefit from the rapidly growing Townsville economy.

"It will become to Townsville what Noosa has become for Brisbane in the last two decades," he said.

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