Real estate agencies are winners in the housing boom with McGrath Estate Agents selling more than $25 million worth of property in the Illawarra in March.
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Director Trever Molenaar said the results reflected the strength of the Wollongong property market, where auction rates were at 100 per cent for the agency's two offices at Thirroul and Wollongong during March.
Mr Molenaar said March 2015 sales figures showed that 81 per cent of residential sales were above $700,000, and were 9.84 per cent over the reserve on average.
"The market is as equally hot now as what it was in the boom of 2004-05 and that was a time of phenomenal growth," he said.
"There are no signs yet that the market is slowing down. Our open house numbers are very high."
The sales figures for the two offices came from 33 residential sales (excluding developments and off the plan sales), 23.2 per cent higher than March 2014.
Mr Molenaar said the most active buyers were families that were seeking bigger properties, while investors were also busy in the Wollongong central market where there were more apartments.
"The middle range of the market is selling really well with homes from the $600,000 to $800,000 range the strongest," he said. Strong buying and selling activity drove the bulk of turnover, even as the market rode through election day and the Easter long weekend, he said.
"There is confidence in the market place and there is a fear of loss as well," he said.
"People are missing out on one or two homes and then the next one they make sure they don't miss out on it so they just go all guns blazing on it."
He said the hot market was continuing in April with the agency on track for another good sales month.
At the weekend, McGrath Estate Agents sold a four-bedroom home at Gipps Road, Keiraville for $635,000 under the hammer. The price guide was more than $550,000.
A three-bedroom home in Evans Street, Wollongong sold for $547,000 at auction. That sale also exceeded its price guide of more than $490,000.