The Agency’s Southern Highlands team had an extremely impressive start to November, selling $15.5 million worth of property across nine transactions.
All nine sales – six homes and three lots of land – were to Sydney buyers, continuing a hot run that includes $20m worth of property sold throughout October.
“The demand from Sydney buyers is extraordinary,” Property Partner Ben Olofsen explains.
“Inquiries overall are up 300 per cent, I would receive a 100 calls a day from prospective buyers and 80 per cent of all buyer interactions are from Sydney.
“To think we have made nine residential sales in just seven days, and 100 per cent of those buyers are from Sydney. The migration trend from our capital cities seems to be growing.”
This trend was recently outlined in REA’s research, which showed the acceleration of population growth in regional Australia.
“We have seen many retirees bring their plans to downsize from Sydney forward due to the impact of COVID-19. People have had time to assess their priorities and want to make the change now,” Property Partner Cameron McKillop says.
“But it is not only people downsizing, many families are migrating to the Southern Highlands too, as they can now work remotely and afford more space and a different lifestyle.
“And then of course there are those professionals who are after a weekender.
“The Southern Highlands is still relatively close to Sydney, and so regardless of motivation, this proximity makes it an attractive location.”