Visitors from Newcastle, Sydney and Melbourne are paying above top dollar to settle in North Haven, Dunbogan, Laurieton and Kew, according to One Agency North Haven licensee Gaven Whalley.

"These last 12 months has been quite different to any other time that we've ever had. Last year has really given people a good understanding of what life is all about," he said.

"People want enjoy where they live, especially if they can work from home. So there's been a big change in the way people have gone from it being a money orientated decision to being a lifestyle decision.

"Buyers are saying we can come here and make similar money but live in a better spot without the craziness of the city.

"We have seen buyers from Sydney, Melbourne, Central Coast, Newcastle and anywhere at the moment, there's no real rhyme or reason to it."

Mr Whalley said he'd seen more first time buyers in the last six months than in the last ten years.

"I think the biggest part of the first home buying is the change in the Australian Government's First Home Loan Deposit Scheme, it has been a real incentive for borrowing," he said.

"We are also seeing people retire earlier. They are happy to spend money on creating their dream property from an older home, rather than buying new builds.

"The volume of people looking for rentals is astronomical. I think we're in for a big couple of years and I don't think that it's going to slow down anytime soon."

LJ Hooker Laurieton selling principal Wayne Heilman said people are seeing low interest rates and taking action.

"I've been doing real estate for 40 years and I've never seen real estate like it is now," he said.

"At the moment there is a high demand and a very low supply of properties. The rental market is also hanging on to what they have.

"We have 160 permanent properties and we've got 75 holiday properties that we manage. We've got nothing vacant and we're actually got a database of tenants waiting.

"When we do get a property, we just go through the database and generally will rent it without even advertising.

"For purchasing properties I think auctions are going to become more and more the norm in this market, It's doing the right thing by your owner and the right thing by the buyers because auctions are very fair. Everyone's there on the day and everyone gets a chance."