Which regional town has the happiest property sellers?
THE property market boom in recent months has left Lismore and Clarence Valley sellers feeling very happy with themselves, according to new market research.
National research by RateMyAgent has revealed Australian vendors in regional areas are reporting higher seller satisfaction results compared to their metro counterparts, consistent with industry predictions of a regional property boom.
With more than 20,000 respondents, RateMyAgent's quarterly Q3 2020 Price Expectation Report (July to September) asked successful vendors if the sale price achieved was above, below or in line with their expectations.
The results found Lismore sellers were the happiest in NSW after their sale went through, with 61 per cent saying they received the sale price they wanted or better.
The research also revealed 50 per cent of sellers in the Clarence Valley received the price they were after.
While, only 48 per cent of Byron Bay sellers noted they were happy with their final sale
Top happiest areas for sellers in NSW
•Lismore 61 per cent
•Maitland, Penrith, Cumberland and Mid-Western NSW - 51 per cent
•Clarence Valley - 50 per cent
•Canterbury-Bankstown - 49 per cent
•Queanbeyan-Palerang, and Byron Bay - 48 per cent
•Port Stephens - 47 per cent
The research also found that compared to 39 per cent in metro areas, country towns are seeing properties sell for above-expectation prices with 41 per cent of vendors receiving a better sale price than expected - a six per cent growth on happiness from Q2 (April to June) 2020.
Growth in regional areas is seen prominently in Victoria (45 per cent) and New South Wales (42 per cent), with both regions reporting higher price statistic results compared to metropolitan areas in Greater Melbourne (39 per cent) and Sydney (38 per cent).
Co-founder of RateMyAgent, Mark Armstrong, said the regional real estate market seemed to have survived a tough year.
"This Price Expectation Report shows a good recovery trend for the regional Australian property market, despite continued economic uncertainty," Mr Armstrong said.
"Agents and vendors in regional markets should welcome 2021 and the Spring/Summer sales season with high levels of optimism as potential buyers look for a tree or sea change in response to government incentives, Reserve Bank of Australia interest rate cuts and high returns."