These prices are a huge contrast to just a few years ago, with wealthy buyers more than happy to spend big in some of our more popular or secluded areas.

Industry experts say the prestige market in NSW remains stronger than ever and largely unaffected by other markets.

The recent record-breaking $37 million sale in Byron Bay has been a revelation and by all reports, celebrities are interested in the Coopers Shoot property.

Six buyers were vying for the six-bedroom villa, which includes a 15-metre infinity mineral pool, infrared sauna and gym.

Meanwhile, a property in the Southern Highlands is tipped to break the record of around A$30 million.

'Linden Hall' at 166 McEvilly Road, Robertson, has been described as a 'creative masterpiece' and 'Australia's most beautiful country estate'.

The 186-acre property has a two-storey mansion designed by architect Richard Rowe.

The hills surrounding the property were used for the filming of the 1995 movie 'Baby' and resemble the English countryside.

Ken Jacobs, global property director and sales agent for Forbes, said the number of enquiries about the property was steady.

"It's more of a case of matching the right buyer with the right property," he said.

"It's an extraordinary property."

It follows the sale of a thoroughbred farm in the Southern Highlands in May for $14.95 million.

Manx Park was bought by billionaire Kie Chie Wong and his wife Ann Lim, who also own an 82-hectare property across the road.

Mr Jacobs said the regional prestige market was more stable than the real estate market, but in smaller numbers.

"The entire high-end market has been less affected than many reports from other markets," he said.

He said the Southern Highlands was becoming increasingly popular in both the prestige and general markets.

"People want to escape the congestion of the city and are looking for more space," he said.

"Covid has had an impact and people are working more remotely."

Ray White senior economist Nerida Conisbee said the prestige market had become stronger across NSW.

"It's become more prestigious, or at least more expensive, since Covid," she says.

"It's been quite a change in the last three or four years."

Ms Conisbee said that while there had always been luxury properties in the Southern Highlands, "the biggest change" had been in locations that were never considered to be at the top end of the market.

"Byron Bay is a clear example of a market that has always been quite expensive but has now expanded into the wider area around Byron," she said.

"Places like Bangalow were super cheap 20 years ago, but now they are very expensive.

"It's not just that these areas have become more popular, but the types of homes being built are very different. 20 years ago it would have been unusual to find a super-luxurious home in a place like Byron, but now they're built and very expensive. It's amazing how places like Byron now have global appeal.

"The sleepy seaside towns along the NSW coastline are also getting a lot of investment."