The phenomenon is most clearly demonstrated in Batemans Bay, where Elders Real Estate agent John Haslem said a shift in the psyche and ongoing development in the town had driven a recent market boost – the first since the plateau of the 2008 global financial crisis.

“Batemans Bay has reached a tipping point as a result of the arrival of Bunnings, refurbishment of the marina and the recent announcement of $300 million for the construction of bridges at Batemans Bay and Nelligen,” Mr Haslem said. “As Batemans Bay offers more big city facilities, people being squeezed out of Canberra and Sydney will find it more attractive.”

Mr Haslem said it was not until late 2016 that confidence in the market made its way down to the South Coast, with more than 500 properties sold in the 2536 postcode in the first six months of 2017.

The number of sales in Batemans Bay continues to trend upwards, with this year’s final figures expected to reach more than 1000.

“A lot of the increase in sales has been at the bottom end of the market,” he said. “Investors who once wanted property under $300,000 are now looking at closer to $400,000.”

While stamp duty exemptions for first-home buyers from July 1 are believed to have triggered a dip in sales in June, this is expected to be short-lived.

“Prices at the lower budget end of the market have improved by 10 to 15 per cent and the number of properties for sale has dropped,” he said. “Batemans Bay seems to be going off – the sooner you buy, the better. If you’ve been waiting to sell, now would be the right time.”