Buyers flock to regional NSW

IT SEEMS regional properties are in hot demand across Australia after two outstanding auction sales for Ray White offices over the past 24 hours.

‘Meru’ 254 Saddleback Mountain Rd, Kiama was auctioned off in front of a crowd of 17 registered bidders last night at Ray White Gerringong. The 1.2ha lifestyle property sold under the hammer at $2.825 million to a Sydney buyer looking for a treechange.

Off the back of an auction campaign that recorded 95 inspections, 485 enquiries and 40 contracts given out, the Kiama acreage sale clocked in at $325,000 above reserve.

Ray White Gerringong Sales Consultant Neil Campbell said the auction campaign was one of the best he’d ever seen throughout his career.

“We’ve never had that many inspections on a rural property. Our market is very good, we’re back to pre-COVID levels or maybe even better,” Mr Campbell said.

“It is the perfect lifestyle property and you couldn't script it better. It’s only two minutes out of Kiama, five minutes to the beach, with a modest but beautifully done home - it couldn't have gone any better.”

Mr Campbell chose to hold the auction in-room at the Gerringong office with the option for bidders to watch online or bid over the phone.

The Gerringong agent said the massive sale only confirms that there are still plenty of buyers out there - especially coming from Sydney.

“The biggest thing we are seeing is that most of our buyers are coming from Sydney,” he said.

“Notably, it’s the purpose that people are coming to us with - they are wanting to buy a rural, coastal property and that’s been the biggest thing for us.”

Meanwhile, Ray White Rural Dorrigo Principal John O’Leary and Rural and Lifestyle agent Rory Birt also sold "Kooroowi" 1343 Kalan Rd, Bellingen for $1.025 million through online auction this afternoon.

After some intense negotiations Mr O’Leary said a local buyer came out the winning bidder on the 262.9ha mixed opportunities lifestyle and farming property.

“We had a lot of interest throughout the campaign and a high level of enquiry that translated to lots of inspections. All the buyer interest came from locals and those already in New South Wales so the result is unsurprising,” Mr O’Leary said.

“Kooroowi” had previously been held by the same family for more than 100 years and has extensive frontage to the Kalang River.