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Things are looking up for Kangaroo Island

Source: australiantraveller.com.au

Buyer demand for Kangaroo Island real estate is on the rise.

According to realestate.com.au, searches for Kangaroo Island properties are up a whopping 75.3% over the past six months.

It isn’t just searches, deals are being closed too.

Property sales have increased 22% from 104 in the year leading up to September 30, 2016, to 127 at the same time period to September 30, 2017.

Kangaroo Island has a number of major developments planned or ongoing including an airport extension, a new passenger ferry, a new $35 million 4-star resort and a new $30 million golf course and hotel.

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“Affordable access has always been Kangaroo Island’s Achilles’ heel,” Real Estate Institute of South Australia (REISA) President Alex Ouwens told realestate.com.au. “This barrier is being lowered, with a competing passenger ferry to Sealink and a competing airline to REX being introduced this summer.”

Ouwens added that many properties were seeing increased inquiries from local, interstate and overseas buyers.

“The astute investors and owners of the more expensive coastal properties and major land holdings haven’t been selling, as they were aware of the proposed $171 million investment on KI and that more affordable access was around the corner,” he said.

Qantas will begin direct flights from both Melbourne and Adelaide to Kangaroo Island next month.

Source: realestate.com.au