After being on the market for little more than three weeks, an Armidale home has sold for the record price of $2 million.
Lachie Sewell of Laing+Simmons Armidale sold the sprawling Parson's Close property setting a new benchmark by $680,000.
There were 78 enquiries in total, and 65 per cent of those were from Sydney, Mr Sewell said, but in the end, a local farmer who was downsizing purchased the home.
"We can do one-on-one inspections, but I also did quite a few virtual inspections with Sydney people," Mr Sewell said.
"There were three offers in the end, and there are exciting times coming for Armidale on the strength of those enquiries.
"Nearly 40 per cent of our sales last month were done sight-unseen - it's crazy.
"The $400,000 and under price range is where we see most of those sales for investment properties."
Mr Sewell said a solid rental return is helping drive the investment property boom, sitting at around five to seven per cent of the property's value.
"There are a lot of buyer's agents acting for these investors, and we have also had lots of inquiries from individual investors in metro cities," Mr Sewell said.
"In the last four months, we've sold 21 properties through a single buyers agent company in Sydney."
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