Sales surge with sea changers and investors attracted to stable market

Ray White Goulburn's business manager Liz DuBois said much of the interest has come from out of town buyers who have been priced out of the market in Sydney and Canberra.

"It's interesting because there seems to be lots of investors around at the moment, probably more than what we've seen in recent months," she said.

"We have seen lots of new buyers, more out of towners looking at the moment but I always say that about Goulburn.

"It's no different when our other markets, like our capital cities when their prices are up, we become a much more appealing market."

Ms DuBois said the region is largely immune from jumps in the market, giving buyers a stable return on investment.

Housing affordability is still an issue for first home buyers and Ms DuBois said there is a high demand for cheaper housing with not enough available.

The median price for a house in Goulburn at $611,000 is steady dating back to 2021 after a significant increase during the COVID pandemic.

Unit prices have risen to a five year high, largely due to supply - only 14 were available to buy last month compared to 183 houses.

The median price for a unit is now $560,000, an almost 15 per cent increase in the past 12 months. The median price in August 2018 was $330,000.

Acting licensee at Angella Storrier Real Estate, Brett Storrier, tells a similar story. He said there's been an increase in demand since the start of the year as interest rates have stabilised.

"There are more buyers, more offers, and properties are selling well," he said.

"There are more Sydney buyers back in the market, many looking for a getaway from the city or an investment they can move into down the track."

Finding affordable rental accomodation in regional Australia is harder than ever. The regional median weekly rent has risen 2.5 per cent since the start of the year to $540. That's also an increase of 6.4 per cent in the past year.

Mr Storrier said he had noticed less demand for rentals citing affordability as an issue.

"Rental prices have increased, along with general living costs for everyone," he said. "Demand during COVID, when people could start to relocate was high and rental prices increased.

"With several interest rate rises, prices increased further to help cover mortgages and many landlords sold adding to an under supply and costing pressures."

Further towards Sydney in the Southern Highlands there is also less demand for rentals. Rental properties in Bundanoon spend an average of 42 days on the market (DOM), among the longest in Australia, which is a 100 per cent increase in 12 months.

Properties in Moss Vale and Bowral, were prices are high, are also taking much longer to rent.

As for rental affordability in Goulburn, Ms DuBois said the increase of investors in the property market may lead to more rentals becoming available.

"It's hard to say but I mean you would think that the knock-on effect would be exactly that," she said.