The real estate market in the Southern Highlands continues to show strength. In March, our Bowral office achieved a record month, reporting $11.6 million in residential sales. However like most markets, lack of stock is the main issue, particularly for buyers as demand far outweighs supply. Despite this, buyer enquiry continues to be strong with the sub-$900,000 market the most in demand, while the high end still has not experienced the same momentum as seen in other markets.   

Bowral and its surrounds continue to be popular with city buyers cashing in after achieving strong results in Sydney and Melbourne. However this demographic of buyer is slowly changing. In the past it was mostly retirees aged 55 to 65 but we’re now seeing more families priced out of Sydney and seeking a lifestyle change and value for money. In saying that, there is still a high demand from retirees and downsizers. These buyers are purchasing low maintenance apartments and villas, walking distance to shops and cafes.  

An emerging trend we have seen over the past several months is Sydney-based Chinese buyers. This new buyer profile is predominantly working families, attracted to the area due to its quality schools, lifestyle and affordability. They are purchasing homes under $900,000, with East Bowral a particular hot spot.   

Another buyer group re-emerging and one that we’ve not seen in the area for many years are city dwellers purchasing weekenders. We’ve seen a resurgence over the past six months, with interest coming from Sydney’s Eastern Suburbs and North Shore.  

With interest rates remaining at record low levels, we expect strong activity in the Southern Highlands to continue throughout the second half of 2015, with out-of-areas buyers drawn to the area for lifestyle and proximity to Sydney.

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A taste of Italy in Bowral