News location:

Canberra Today 2°/5° | Sunday, May 22, 2022 | Digital Edition | Crossword & Sudoku

Country towns tipped for property boom in 2022

 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.

 

 

Who can be trusted?

In a world of spin and confusion, there’s never been a more important time to support independent journalism in Canberra.

If you trust our work online and want to enforce the power of independent voices, I invite you to make a small contribution.

Every dollar of support is invested back into our journalism to help keep citynews.com.au strong and free.

Become a supporter

Thank you,

Ian Meikle, editor

Share this

2 Responses to Country towns tipped for property boom in 2022

Peter Wallace says: December 14, 2021 at 4:29 pm

As an agent in the Braidwood precinct we have found growing interest due not only to price but also
1. The cost of living in the ACT is prohibiting retirees on fixed incomes.
2. For many people aged over y0 years with medical needs Braidwood is a better location than the Far South Coast. Especially being within one hour of Canberra or Goulburn. Also the renovated new hospital MPS is a plus.

Reply

Leave a Reply

Related Posts

News

Motorcyclist the third road death in 48 hours

THE ACT recorded its third road fatality in 48 hours with death of a motorcyclist following a collision on Bugden Avenue, Gowrie. last night (May 21). The ACT road toll for the year now stands at nine deaths. 

Follow us on Instagram @canberracitynews