Hot Property Illawarra: 2022, the end of FOMO for buyers throughout the region

It's your weekly look at the always exciting world of property in the Illawarra and South Coast.

There's been plenty of reflection and review in recent weeks regarding the Illawarra property market during 2022.

If 2021 saw buyers haunted by FOMO (Fear of Missing Out), home hunters were in less of a hurry to seal a deal in 2022 as prices declined.

That's according to Herron Todd White's latest report, which provided a report card for the Illawarra this year.

Illawarra agents also weighed in on the state of the market, with one remarking that, "there are some owners out there who are still thinking that prices are way up there, but overall there has been a decline".

A Sydney-based buyer has purchased a refurbished boutique hotel in Kangaroo Valley.

Wildes Boutique Hotel was recently sold off-market.

The agents remained tight-lipped about the sale price, but industry sources have indicated it was about the $12 million mark. Find out more here.

Meanwhile, an acreage property in a rural location near Albion Park is for sale after more than 30 years in the same family.

The property, located at Macquarie Road, Tongarra features two dwellings situated on 10 acres of near level land.

The property has a price guide of over $3 million. Take our video tour of the property.

Looking for a weekend getaway, or even a full-time change of scenery?

The always in demand Shoalhaven region could have the answer, with a number of appealing properties on the market right now.

We've compiled a list of three eye-catching homes for sale in the region, including one with a guide of $10 million.

Finally, while some auctions throughout the region have been attracting a few registered bidders, a dozen parties signed up to fight it out for a Primbee property.

The absolute waterfront home ended up selling at the auction.

In this week's edition of 'Under the Hammer', the selling agent gave us the lowdown.

This is the final edition of Hot Property Illawarra for 2022. We'll be back in January - thanks for reading throughout the year!

Do you have an interesting property story? Let us know at brendan.crabb@austcommunitymedia.com.au.

-Brendan Crabb, Illawarra and South Coast property reporter