Improvements to connecting motorways and internet speeds means the Blue Mountains, west of Sydney, is becoming a property hotspot, and now a major network has expanded into the area.
The new office launched by Raine&Horne will service the boutique village of Leura, as well as the nearby city centre of Katoomba and scenic Wentworth Falls.
The business owner, Glen Ebzery, confirmed that green-changers are moving to the Blue Mountains in increasing numbers, as a result of improvements to infrastructure.
“The ongoing improvements to the Great Western Highway with the recent opening of the Wentworth Falls section is slowly reducing commuter times from the Mountains to the city, while improved internet technology is assisting more Sydney-based employees in working a day or two weekly from their homes in Leura, Katoomba and Wentworth Falls,” he said.
Mr Ebzery is a long-term local real estate agent, property manager and businessman who has experienced a number of property cycles since starting his career in the region in 1998.
“The real estate market has been turning for the last 18 months and today we probably have the best conditions since 2003, with investors and owner occupiers back, thanks to low interest rates. Enquiry levels are also stronger than early 2012,” he said.
“With the vastly improved level of enquiries from buyers, it is timely news for those vendors considering the sale of a home in Leura, Katoomba and Wentworth Falls this spring.”
Rental yields and vacancy rates are also tighter, according to Mr Ebzery, as more tenants move from Sydney into more affordable Blue Mountains rentals.
“There’s also been a change in the investor landscape, with older landlords being replaced by many investors who are using self-managed super funds to purchase an investment property in the Blue Mountains,” he said.