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Key points

• A Sydney property budget stretches farther when home buyers search in regional areas instead. 
• Family homes on the coast or in the countryside are achievable on a budget of $1.46 million.
• Even in pricey Byron Bay, a handful of homes have sold about that price or just above.

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How far will Sydney’s median house price of $1,459,856 stretch in regional NSW?

Whether by the coast or in the countryside, purchasing outside of Sydney achieves more room to move, and in some cases even water or scenic views.

Byron Bay’s property market has fallen back from its peak.Credit: Danielle Smith

Forster

Forster is a 3.5 hour drive north of Sydney, offering more affordable beachside living and a laid back atmosphere in a hot spot for young families.

A five-bedroom two-storey family home at 63 Burgess Road opposite Burgess Beach sold for $1.45 million in May. The north-facing home with beach and ocean views captured the interest of three families all seeking to relocate from the northern beaches of Sydney.

Selling agent John Loadsman from Noble Realty showed 16 groups through five open homes. The successful buyer from the northern beaches wanted room to move and an office.

“[Forster] is accommodating those looking for an Airbnb style property as well as those wanting to work from home. NBN services are good, allowing people to work from home and relocate,” he said.

Loadsman said interest in Forster from Sydney buyers is consistent. “Prices have levelled. We’re not experiencing that [Sydney] price increase at the moment,” he said.

Kiama

Kiama, less than two hours south of Sydney, is a popular coastal town famous for its windswept coastal walk and blowhole.

A luxuriously styled four bedroom family home at 30 Fadden Street with mountain views attracted 32 groups through its inspections, of which more than half were from Sydney.

After nine days on the market the stunning coastal retreat sold for $1,500,000, just $40,144 above Sydney’s median house price, to a buyer relocating from Paddington.

Selling agent Laila Henshaw from Betschwar & Co said Kiama is popular with people who can work from home.

“It depends on how close you need to be to the city. A lot of people moving [who] can work remotely absolutely love it, because it is a nice little trendy coastal town. You get good value,” she said.

Bowral

Bowral, 90 minutes southwest of Sydney, is nestled among the rolling hills of the Southern Highlands.

A two-bedroom cottage at 4 Una Street a five-minute walk from the country town fetched $1.4 million in May.

Selling agent Henry Capel from One Agency Southern Highlands showed 18 groups through and issued three contracts. The property needed some touch ups but still sold within three weeks on the market.

“The reason it sold so well was the position so close to town,” he said.

Capel said retirees have been the most common relocators recently, in contrast to the wave of young families arriving during the lockdown years.

“I think [Bowral] offers a young family a wonderful lifestyle,” he said.

Bathurst

Bathurst is a three-hour drive inland west of Sydney, famed for motorsports.

An elegant four bedroom Federation classic home sold for $1,425,000 prior to auction recently. The immaculately restored property built in 1914 at 49 Rocket Street sold after just four days on the market.

Selling agent Kurt Waterford from Elders Emms Mooney – Central Tablelands showed six groups through and said there is still a good mix of Sydney buyers inspecting properties.

“What you can buy [in Bathurst] you can’t buy [in Sydney] – it’s chalk and cheese,” he said.

“A versatile living space. A granny flat at the end. Five bedrooms, two and a half bathrooms.”

Waterford said some Bathurst residents commute to Sydney by train for work, perhaps two to three days a week.

Port Macquarie

Port Macquarie is a four-hour drive or so north of Sydney, offering small town convenience and an outdoor coastal lifestyle.

A five bedroom, two storey house with swimming pool located at 3 Crystal Court sold for $1,410,000 in May. The double brick home on 1006 square metres has views of the golf course.

The home sold at auction to a sole registered bidder. The buyer was from Melbourne and had been renting in the area for six months prior.

Selling agent Dean Glen-Holmes from McGrath Port Macquarie said this house was typical for the price.

Glen-Holmes estimates 65 per cent of buyers are from Sydney.

“Particularly northern beaches, eastern suburbs and the Hills District. Last year, there was more coming from Melbourne,” he said.

Byron Bay

Byron Bay is an eight-hour drive north of Sydney or a flight of about one hour 20 minutes. Popular with celebrities for its relaxed sub-tropical lifestyle, it is also close to the Gold Coast.

Byron prices skyrocketed after the international border closed but the heat has started to come out of the local market this year and last, leaving a handful of homes trading at close to Sydney’s median house price – or just above.

A three-bedroom family house with a backyard sold for $1,550,000 in the suburb of Byron Bay in April.

The 700 square metre block at 18 Julian Rocks Drive is walking distance to the supermarket, beach, close to the hip Industrial area for shopping and cafes and surrounded by easy walking and bike trails.

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