property booms

Byron Bay, Bangalow, Coffs Harbour and Wollongong property booms pricing out locals in regional NSW

PHOTO: Amanda Sinclair said she didn’t foresee a move back to Sydney, even if her partner’s work required him to return to the city.(ABC Illawarra: Timothy Fernandez)

Amanda Sinclair and her partner had a dream of living cheaply by the beach, and had wanted to move to the Illawarra for five years but were forced to remain living in Sydney for work.

That all changed when COVID-19 forced a rethink on working from home, and the couple finally saw an opportunity to move south to Wollongong.

“When COVID hit, he was able to work online and we were able to make it to Wollongong and live our dream,” she said.

“I think because of COVID they now recognise that he can work part-time from home. Originally, when he wanted to move to Wollongong, they said it was too far away and they needed him to be closer.”

The couple is one of many rethinking their city lives and lifestyles, and deciding they have held off on their great escape for long enough.

As a result, property prices in regional NSW are exploding and housing demand is outstripping supply like never before.

One downside is that many locals are being priced out of the market, rental prices are increasing and wait times for social housing are ballooning.

Mansions overlooking the ocean at Byron Bay, Australia's most easterly point.
The three months to September saw Byron Bay property prices increase by almost 30 per cent.(Four Corners: Harriet Tatham)

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