The next 12 months present an opportunity for the regional New South Wales to forecast further growth in house prices, according to Raine & Horne.
Angus Raine, executive chairman of Raine & Horne, said 2020 had been a "pivotal year" for the NSW region, which reported an average growth of 7% as more Sydney residents fled lockdowns from the city to the central and south coast, and many regional towns.
Raine said the increased activity was not limited to large regional areas such as Wagga, Bathurst and Orange.
For example, houses in Boorowa, a small town 340 kilometers southwest of Sydney, sell for around $ 420,000, which is above the asking price of $ 350,000.
"While more announcements may slow this level of growth slightly, I expect the regional markets of New South Wales to continue to advance through 2021 and through to 2021 and through. # 39; in 2022, as more and more urban workers realize that they can work remotely, earning Sydney dollars while living in the area. "Raine said.
Data from CoreLogic shows that the regional New South Wales ended the year with an 8.3% annual gain in home values. The New South Wales region outperformed Sydney, which posted only 2.7% growth in home values.
Top suburbs:
mt lawley
,
Westmead
,
artarmon
,
Padbury
,
Lalor park
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