The latest CoreLogic data reveals dwelling values in the region rose 1.4 per cent to a median $381,300 in October. This was part of a 2pc increase for the year, but values were down 3.8pc from the July, 2018 market peak. A dwelling is defined as a combined house and unit.

House values also rose 1.5pc to a median $386,839 in October. They increased 2.8pc over the year but again, were down 3.4pc on the July, 2018 peak.

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Unit prices told a different story. CoreLogic said prices fell 1pc in October to a median $274,248 or 12pc over the year. This was also a 14.2pc decrease on the August, 2018 market peak.

The capital region of NSW, of which Goulburn Mulwaree is a part, was ninth in the top 10 sub-regions for annual change in dwelling values. It showed a 1.6pc rise in dwelling values, while Launceston and north-east Tasmania was the top with a 4.7pc increase.

CoreLogic research director Tim Lawless said Australia's non-capital city sub-regions had generally shown a healthier performance relative to the capital cities. This was particularly true of areas adjacent to Sydney and Melbourne, as well as coastal markets.

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"Conversely, drought affected areas have seen a drop in demand for housing, with values falling sharply across many of the rural sub-regions associated with crops and grazing," he said.

Goulburn real estate agent, Peter Mylonas, said the number of residential inquiries remained steady.

"There's a lot on the market at the moment but the thing I've been noticing is that property sales over $1 million have slowed down," he said.

"...(But) Goulburn is still very attractive to people. We're hearing that people from Sydney and Melbourne just can't make it work so they're looking to centres like Goulburn."

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Mr Mylonas said this was also reflected in commercial and industrial inquiry. He recently showed a Melbourne man through a large CBD building and has fielded interest from a large company wanting to relocate to South Goulburn, as well as a food manufacturing operation.

His agency has also been appointed to sell 25 one and two-bedroom apartments in the new Quest development in Clinton Street.

"I think they will sell like hotcakes," he said.

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