Rare land blocks on the NSW South Coast are being snapped up within hours of coming to market, due in part to the continued rollout of the NBN, a leading real estate group says.
Raine & Horne says two of its recent land releases in the Mollymook and Milton regions were sold out within hours.
The co-principal of Raine & Horne Mollymook/Ulladulla/Milton, Tony Hopper, said the result was “very impressive” given the fact that it took a year in the past to sell similar subdivisions in the same region.
Stages four and five of Seaside Estate Dolphin Point, south of Ulladulla – with 28 blocks – were sold in March. Stage four Cork’s Hill, Milton – 24 lots – was sold in May. The land blocks in both releases sold for $250,000 to $300,000.
“The buyers attracted to the subdivisions were a mixed bag of locals, retirees and people from Sydney trying to secure a toehold in real estate,” Mr Hopper said.
Small business owners were also among the buyers, he said.
“The NBN is available at Cork’s Hill and Dolphin Bay, which was duly noted by the increasing numbers of microbusiness operators who can now earn Sydney, Melbourne, Brisbane or Perth dollars, but live on the NSW South Coast.”
In nearby Batemans Bay, land releases in stage 11 of Sunshine Bay Estate are also selling quickly.
Raine & Horne Batemans sales agent Bay Aristotle Stavros said microbusinesses and start-ups are buying in the area.
“Batemans Bay is a bit further from Sydney than Ulladulla and it is the closest coastal town to Canberra, so we are well-positioned for those considering or operating a small services business,” he said.