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Suburbs in regional New South Wales rose as the best-performing regional markets in terms of price gains, according to the latest report from CoreLogic.
Richmond-Tweed claimed the top spot for houses after it recorded a 12.6% growth in median value in January. Houses in this region have a median value of $696,394. In terms of units, Southern Highlands and Shoalhaven performed the best. Units in the suburb have a median price of $484,642, representing a 17.9% annual increase.
Unit sales in the suburb rose by 34.6% while selling days shrank from 87 days to 60 days.
Tim Lawless, executive director for research at CoreLogic, said the level at which prices in regional markets increased was four times higher than that of capital cities.
"Demand for regional housing can be attributed to a range of factors. Generally, prices are cheaper than their capital city counterparts, housing densities are typically lower, which is likely to be appealing amidst a global pandemic, and many workers have a new found appreciation and ability to work remotely which is supporting additional demand," he said. Continue reading at: x
Regional NSW suburbs outperform peers
These suburbs reported the strongest median-price gains for houses and units
www.yourinvestmentpropertymag.com.au
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