Already indulged with over a dozen restaurants, a spa and championship golf course, locals can enjoy the majestic views of Mollymook beach while dining on Rick Stein’s famous seafood dishes. It’s hardly surprising, then that Mollymook’s house prices are the highest in the Shoalhaven region.
Why do famous people favour such locations? It’s because they are already sought after, especially by the well-heeled. Rather than creating appeal, the presence of famous people simply adds to the existing attractiveness of an area.
In Byron Bay, the “Chris Hemsworth effect” has added an extra layer of desirability to living in this already idyllic location as buyer demand has pushed the median house price to an incredible $2.5 million. Tamborine Mountain on Queensland’s Scenic Rim is home to famous rich listers such as Hugh Jackman, while Mount Macedon in Victoria has played host to former US Secretary of State Colin Powell and celebrities such as Nicolas Cage and Ed Sheeran. Median house prices in both locations are higher than in their nearby capital cities.
Yet, celebrities can only add to an area’s appeal, not create it, so it is always important to look beyond the benefits of living in celebrity suburbs or the supposed impact of those with sinister secrets and do your research to discover the actual causes of buyer demand in any market.