The sale joined a growing trend for online auctions across the region since the COVID pandemic hit in 2020 and it didn't disappoint the 80-year-old Port Macquarie vendor who watched the successful sale all happen on the big screen.

The auction was held on Saturday, August 21 with the Lighthouse Beach property selling for $885,000 - more than $50,000 above the reserve.

Elders Real Estate Port Macquarie agent Adam Holborow said the online auction was a first for the agency's Port Macquarie office with 14 registered online bidders.

In the office - the agent, the auctioneer and the vendor with a hot cuppa, watched on.

"The auction was held in our office with just the auctioneer. It really shows how far technology has come," Mr Holborow said.

"The lady who owned the house was in her 80s. She was happy to sell it and it sold about $50,000 above the reserve.

"I definitely think with the uncertainty of lockdowns we will see more of this. They have been using this technology in Sydney for six months and it goes to show how lucky we are in Port Macquarie to have people wanting to move here."

Mr Holborow said it was an unusual experience, but something he expects to see more in the future.

"As an agent I usually like to deal face-to-face with people and on auction day to answer questions. In this case, the owner and I were sitting in the office with a cup of coffee as we watched the auctioneer work," he said.

"We had buyers from Tamworth, Sydney, Brisbane, Melbourne and quite a few locals. The eventual buyer was from Sydney and we had done a virtual walk through with her. She hadn't seen the property in person.

"A big part of this is just putting buyers at ease because we have seen an increase in people wanting to purchase property over the phone from other areas.

"I definitely think this has the potential to impact prices in Port Macquarie and it's going to be exciting to see what develops from this."

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According to a recent report released by National Australia Bank (NAB), a combination of record-high rents and favourable lending terms mean that it's still cheaper to buy than rent in many locations, including Port Macquarie.

The reason buying won out in many cases was squarely due to near record-low mortgage rates, according to NAB Executive, Home Ownership, Andy Kerr.

"House prices are rising but there's still plenty of opportunities for Australians to buy their dream home rather than rent it. The simple reason for this is the record low rates on offer, with many mortgage rates still coming with a 2 in front of them," Mr Kerr said.

A similar study was recently conducted by CoreLogic in July, although that survey assumed a lower 2.4 per cent mortgage rate.

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