Property values continue to rise in the Illawarra and Shoalhaven, with new figures indicating the latter was among the country's strongest performing regional markets during September.
Australian property values grew at their strongest annual rate since 1989 in the year ending September 30.
According to CoreLogic, the strongest performing regional markets included the Shoalhaven and Southern Highlands region, where values grew by three per cent during September, and 7.4 per cent during the past three months. The median value there is $828,553.
In the Illawarra, values increased by 1.9 per cent during September, and 6.5 per cent during the past three months. The median value in the region is $887,321.
Seller Jennifer Graham recently listed her home for sale at 55 Parker Crescent, Berry.
It has a price guide in the mid-to-late $2 million range.
The four-bedroom, two-bathroom home is set on half an acre, and backs on to rolling farm paddocks.
Perched at the highest position of the area, it offers panoramic north-easterly views.
Mrs Graham and husband Michael built the home, which was completed nearly two years ago.
"The view we have is pretty rare, and it feels like we're on the farmland, but without the maintenance of it," she said.
Mrs Graham said they were selling in order to reduce their debt, "live mortgage free" and potentially downsize.
While the couple hadn't planned on it being their long-time home - "we had a five-year plan" - she said the state of the market in the Shoalhaven and its popularity with Sydney buyers had influenced the move to sell.
"It definitely swayed us, the large demand from Sydney-siders at the moment," she said.
"We weren't going to sell this early, but we've decided to take the plunge now, because of how good the market is.
"And with COVID, it's about realising what's important, which is being able to spend more time with the family and not working so much."
Selling agent, Tony Russell of Belle Property Berry said the property was on one of the biggest blocks in the Huntingdale Park estate.
"It backs on to paddock, so there's never to be built-out views of the escarpment," he said.
Mr Russell said he believed the Shoalhaven market would continue to prosper once the lockdown ended, as more buyers would eventually be able to visit and inspect properties.
He said the increased ability to work from home and perhaps commute to the office one day a week had also made the region a more viable option.
"It's Sydney buyers that have pushed the market up here - no doubt about that," he said.
"So many prospective buyers in Sydney that we talk to are very keen to come down here and buy (once able).
"They aren't so much your second house kind of people; they're people who are selling up out of Sydney, and moving to live here permanently. I think that's more of the driver of the prices, rather than it being a discretionary purchase."
According to CoreLogic, unit value growth has traditionally lagged that of houses in the regions, but regional unit values grew by 1.9 per cent over September, compared to a 1.6 per cent rise for regional houses.
"In fact, the September quarter saw unit values rising faster than house values across regional Australia," CoreLogic research director Tim Lawless said.
"This is probably a reflection of stronger demand for downsizing options and holiday homes in popular coastal markets."
However, there are clear signs are emerging that peak price growth is firmly in the rearview mirror, with a looming credit intervention and a surge in spring listings likely to further take heat out the market, according to the CoreLogic update.