One such example is Wollongong residents Ian and Suzy Luff.

"The changes with COVID made a lot of people have a reset," Mr Luff said.

Read more: Sydney buyer drives up price of Coalcliff house to eyewatering $4.7 million

The couple have listed their apartment within Wollongong's 21-storey 'Signature' complex.

The Luffs initially bought the three-bedroom apartment with a view to it being their long-term home.

However, they recently bought a waterfront property in Queensland to be closer to family, including son Warren, a renowned Supercars and stunt driver.

Another factor in their decision was Ian realising he could largely work remotely, after being forced to operate his Sydney-based driver training instructing business from home for several months due to the pandemic.

Mr Luff said they'd be "sad to see it go", but was looking forward to being close to family and enjoying the warmer weather.

"It's a postcode change to me, that's all," he said.

"We can get on a plane and get from Coolangatta to here in an hour."

Mr Luff said the strengths of Signature was the complex's views and "position, position, position".

"There's a lot of high-rise going up in Wollongong... The changes we've seen in Wollongong in the past 12 years, it's becoming a very cosmopolitan city," he said.

The property is located at 1703/10-18 Regent Street.

It has a price guide of $1,150,000 to $1,200,000.

The three-bedroom, two-bathroom apartment will go under the hammer on Friday at 6pm.

Features include ocean and coastal views, as well as resident access to six-day concierge service, pool and gym amenities and an outdoor cinema.

The co-selling agent is Darren Kay from Belle Property Illawarra.

"As the eastern side of Corrimal Street densifies buyers are now considering inner-city locations perched on elevated positions offering not only stunning ocean views, but convenience and privacy," he said.

Got a news tip or story for us? Email cos@illawarramercury.com.au

Region's in demand

Searches for regional properties are at an all-time high and the COVID-19 pandemic has been a trigger for people who may have considered a move to a regional area to actually take the plunge.

That's according to a new report from property valuation and advisory company Herron Todd White.

"Commuting may have been difficult to swallow five days a week, however working arrangements and flexibilities are making it possible to work from home more and only have to undertake the commute once or twice a week," residential team leader Chris McKenna said.

"The result is that properties one or two hours from Sydney are seeing huge interest and activity, including in the Wollongong LGA."

Pricefinder reports that residential sales in the Illawarra over $2 million have jumped from 26 in the period including September to December 2019, to 53 for the same period in 2020.

Mr McKenna said agents are reporting strong interest from Sydney buyers in this price point in the northern beaches areas such as Bulli, Thirroul and Austinmer. He expected this trend to continue in 2021, "as we all get used to life during pandemic conditions and hopefully after they subside".

Mr McKenna said one of the biggest cautions for 2021 - and also one that is impossible to predict - is a major COVID-19 outbreak.

"We saw that the second wave and lockdown period in Melbourne put a halt to the property market there and a similar result would be expected if severe restrictions were to be reintroduced into NSW," he said.

"While we are hopeful that this will not occur, it remains a possibility while COVID-19 exists as a significant threat."

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