COOMA, Braidwood and Yass are tipped to be property hotspots in 2022, as median house prices in Canberra continue to climb.
Regional property markets in NSW have been a standout performer in 2021, according to Raine & Horne, with the property group expecting more of the same in 2022.
“Yass, Braidwood and Cooma offer the dual benefits of real estate affordability backed by diversified economies making them hotspot real estate markets,” said Travis Wentriro, NSW Network Manager, Raine & Horne Group.
With the median house price in Yass around $595,000, well below the Canberra median of almost $1 million, Mr Wentriro predicts more Canberrans will leave the ACT for a life in the country in the new year.
“In 2022, we expect more Canberrans will flee the ACT for the rural delights of a historic township such as Yass while still earning capital city salaries,” said Wentriro.
“This shift north should see values in more affordable Yass potentially grow by five to eight per cent next year.”
Braidwood is also becoming a property hotspot with the median house price sitting just over $760,000, Mr Wentriro said.
“While Braidwood has a strong farming sector, it benefits as a commuting town given it’s just over an hour by car east of Canberra,” Mr Wentriro said.
“We’ve already seen financial planners, accountants and other service professionals shift to towns such as Yass and Braidwood in 2021 as the Tablelands region enables them to service both the Sydney and Canberra markets.”
Mr Wentriro predicts that Cooma’s proximity to Canberra, coupled with employment opportunities in the town, could drive up real estate values by up to eight per cent next year.
“There is jobs growth locally thanks to the Snowy Hydro launching its new Snowy 2.0 precast factory in Cooma, where 130,000 concrete segments are being produced locally to line the tunnels for the massive multibillion-dollar hydro project,” Mr Wentriro said.
“The drive from Cooma to Canberra is under 90 minutes door-to-desk, and while there are few locals yet taking in the commute, the town’s affordability is sure to catch the eye of savvy buyers who can work from home.”
The median house price in Cooma is $410,000.
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