Illawarra residential property sales have stayed strong in 2020 despite the COVID-19 pandemic negatively affecting so many other facets of life.
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Tim McKibbin, CEO of the Real Estate Institute of NSW, said across the state residential housing had been largely unaffected by the pandemic and the market was "poised to play an influential role in the economic recovery".
"We expect this momentum to carry through 2021, with the fundamental supply shortage and robust demand helping to keep prices trending upwards," Mr McKibbin said.
In 2019, house prices generally took a dive across Wollongong, Shellharbour and Kiama but have seemed to recover with average prices near what they were for 2018, according to Princefinder data.
Mr McKibbin said inner-city suburbs of Sydney were experiencing an "exodus" as people chose a better work-life balance, leading to downward price pressure in pockets.
"The realisation that [some] can now work from home has raised new questions as to where they want to call home," he said.
"Housing supply in select outer suburbs and regional centres, particularly those within 100km of Sydney, will continue to come under pressure, pushing prices up."
In September this year there were 418 property sales (houses, units, residential land) for Wollongong, 465 in October, 412 in November and 250 in December - an extra 259 more sales than the same period in 2019.
For Shellharbour there were 701 sales for September through to December - 121 more sales than the same time in 2019, while Kiama 259 sales compared to just 194 from the same time the previous year.
Meanwhile, sales data shows auctions were largely swept to the wayside in 2020 in favour of private treaty sales.
For the month of November, Wollongong had 227 private treaty sales, compared to 18 sold at auction, for Shellharbour only 5 were sold at auction compared to 128 through private treaty.
Mr McKibbon said rentals in regional areas were also experiencing high demand, again as people looked to a better work-life balance.
"Some people considering a regional move are test driving the idea using rental accommodation," he said.
"With more people embarking on the same path, we are likely to see inner city vacancy rates remain higher, while outer Sydney and regional markets will continue to see demand exceeding supply."