Buyers out in force: Pent-up demand amid coronavirus drives NSW South Coast market

Canberra’s love affair with the NSW South Coast is back on since the easing of COVID-19-related travel restrictions and the market is bubbling hot.

Ben Pryde of Raine & Horne Mollymook/Milton says buyers have come out in force.

“It’s like that pent-up demand has been released,” he says.

“I recently sold 36 properties in 23 days. That just doesn’t happen under normal circumstances.”

Pryde says demand has been for across the board, from homes to rural lifestyle properties.

“Buyers have included those moving out of the bigger cities, families, downsizers, retirees and young couples,” he says.

“I think the working-from-home scenario has changed things – employers and employees now realise it works and there’s now more flexibility in where you can live.”

Melissa Williams of Ray White Batemans Bay agrees the local market is running hot.

“We’re getting plenty of cashed-up buyers exiting Sydney who are snapping up whatever comes to market,” she says.

“My advice to Canberra buyers is to make a strong offer as soon as you find something you like – Sydney buyers are not even negotiating on price.”

Williams says supply is still tight and that is putting upward pressure on prices with properties in the $450,000 to $800,000 range “flying off the shelf”.

“And it’s the same in the $1 million-plus segment – I sold four recently, all full price.”

Williams says prices won’t be coming down with road upgrades on the way and a new hospital on the radar.

• Sell. If you’re thinking of selling your holiday home, you couldn’t pick a better time. Buyers, especially those exiting the Sydney market, are cashed up and paying asking prices – no questions.
• Buy. Supply is tight and there’s a competitive pool of buyers. Agents advise Canberra buyers that it’s “the quick and the dead”. If you haven’t got cash, then make sure you have pre-approved finance.
• Consider. Future prices will only be going in one direction – up. Apart from the idyllic lifestyle, the NSW south coast is going to benefit from road upgrades along with a mooted regional hospital.

Check out Allhomes top picks of homes for sale in the NSW South Coast:

Burrill Lake

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Here’s a little bit of magic near Ulladulla – a beautiful coastal home featuring a sun-drenched northerly aspect overlooking wetlands teeming with birdlife.

There’s also a little taste of the Hamptons with an inspired floor plan that captures spectacular views from throughout the home, but also delivers privacy where you need it.

Entry is highlighted by a Cote d’Azur chandelier and wormy chestnut flooring throughout a generous living area.

The gourmet kitchen includes spectacular 40-millimetre Calacatta Caesarstone benchtops and a bi-fold servery window which opens onto a sunny terrace.

There’s also a butler’s pantry and window splashback overlooking a garden courtyard with feature magnolia tree and outdoor spa.

A second casual living area is ideal for a movie or games night while an activity room opens onto that courtyard – the perfect place to curl up with a good book in winter.

There’s an elegant main suite that enjoys an impressive walk-in wardrobe and an en suite finished with Carrara marble hexagonal accent tiles, and feature lighting.

The main bathroom is equally luxe and has a free-standing tub.

Comfort is provided by ducted reverse-cycle airconditioning over five zones; solar power; a powder room; rainwater tank; double garage and a garden shed.

Walking tracks meander around the wetlands and reserve to the lake, beach, national park and shops.

Burrill Lake is five kilometres from Ulladulla and renowned for good fishing.

Price guide: $999,000

Private sale

Agent: Raine & Horne Mollymook/Milton, Ben Pryde 0410 324 209

Or try these:

Sussex Inlet

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Price guide: $1.1 million

Private sale:

Agent: One Agency Mollymook/Milton, Lee Manning 0400 888 820

Malua Bay

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Pride guide: $439,000

Private sale

Agent: Raine & Horne Batemans Bay, Kate Quinlivan 0413 934 745

Merimbula

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Price guide: $1 million

Private sale

Agent: Merimbula Realty, Taylor McNeil 0409 630 766