According to global real estate group, Raine & Horne, the Sydney buyers are set to drive up demand for regional and coastal real estate across the state. 

Angus Raine, Raine & Horne Executive Chairman, said Sydney downsizers were underpinning real estate values on the South Coast. 

He said towns such as Ulladulla offered real estate prices that were “significantly” below the median house price in Sydney. 

“These robust population and services hubs appeal to downsizers because they can deliver quality healthcare facilities, employment, diverse economies, and comfortable and affordable lifestyles,” Mr Raine said. 

Raine & Horne Milton Mollymook Principal Ben Pryde said he had already seen “good results” in September, especially for properties at the “higher end” of the market. 

“It seems that buyers from Canberra are propping up activity and prices in Mollymook, Milton, and Ulladulla,” he said.

“At the same time, Sydney sea changers are continuing to make their presence felt at South Coast open homes.

“Sydney retirees are biting the bullet and selling for a bit less than 12 months ago and moving to our region to retire.”

Mr Pryde said city buyers were looking for real estate value, and were finding it in the southern Shoalhaven. He said downsizers were buying properties values between $700,000 and $1.5 million. 

For that price, they were getting a near-new three or four bedroom home. 

“This is a relatively wide range because the properties that retirees are buying in this region depends on where they lived in Sydney, and the prices they achieved for their former family homes,” Mr Pryde said.

“For $750,000, downsizers can secure a near new 3-4-bedroom house in Milton or Ulladulla, while $1.2 million buys a property a couple of streets from the beach or a small acreage in Milton.”