Easter weekend sees busy open homes in Batemans Bay

It's no secret the Batemans Bay property market has been booming in the last 12 months with low interest rates, high demand and short supply creating a perfect storm for fast sales.

LJ Hooker agent Rob Routledge said properties were often going under offer the same day they were advertised.

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A Maloneys Beach property advertised last Thursday morning received enquiries almost immediately and he took three groups through the home on Saturday.

By the Tuesday following the long weekend, the papers were signed and the property was sold.

"It's pretty astounding the rate at which properties are selling at the moment," Mr Routledge said.

"Before, it wasn't unusual for houses to be on the market for two to three months, but now it's a matter of weeks.

"Buyers are going to open homes and putting in offers on the spot because there's no guarantee it will stay available for a long time."

The Maloneys Beach property was purchased by a local family, but much of the current boom is being driven by markets from Canberra, Sydney and regional areas close to the coast.

Blackshaw Coastal agent Pat Jameson said the COVID-19 pandemic had driven a desire for coastal holiday homes as people could no longer go overseas and chose to invest in the Australian market instead.

"The local market is always stronger than people expect, but the last 15 months in particular has really seen it thrive," Ms Jameson said.

"Most of our high end sales are holiday homes, for people who've been unable to travel overseas but are still interested in getting away from home when they can.

"We've also had holiday home owners seeking appraisals for their properties, not necessarily looking to sell but just wanting to see how their property would perform."

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But the perfect storm for property sales has also created difficult social problems, with Shire renters bearing the brunt.

"People are paying more for properties, so they're wanting more in rent, but that's very difficult when the jobs here do not pay what is necessary for that rent," Ms Jameson said.

"At times we can receive more than 50 tenancy applications for properties and that's tough because it leaves a lot of people without options."

While the market is showing no signs of slowing down, time will tell as to when the storm will pass.

"We think it will continue for at least the rest of the year, but it's really up to the crystal ball to know how the market will change," Mr Routledge said.