Inside RBA governor Michele Bullock's new $2 million plus Yamba coastal property

Reserve Bank governor Michele Bullock settled the purchase of a four-bedroom house in the NSW north coast town of Yamba, on the same day the central bank raised rates this month.

The high-end property in the town 1.5 hours south of Byron Bay was bought in February and exchanged on Tuesday March 17, the same day that the RBA raised rates for the second consecutive month.

Listing agent, Daniel Kelly of Ray White Yamba, was able to confirm the sale to ACM but unable to comment further.

The transaction was also declared by Ms Bullock, as required, in the declaration of material personal interests as being jointly owned with her husband and is listed as an investment.

It is listed along with her Sydney home and two investment properties in the NSW capital.

The Yamba house was advertised as a "home that has been designed for the discerning buyer" and features a glass encased wine cellar and feature granite stone wall.

The property has four bedroom, including a "luxurious parents retreat", a large open-plan living and dining area and outdoor heating to the entertaining area.

The level of craftsmanship and high-end details are highlighted in the property advertisement.

"The spacious open plan living area showcases Australian Blackbutt timber floors and is a presentation of fine craftsmanship, with the heart of the home," the listing description reads.

"A state-of-the-art kitchen, boasting premium finishes such as a French imported handmade basin, quality appliances including dual Miele ovens, and a vast butler's pantry that is ideal for culinary enthusiasts and those who love to entertain," it continues.

There is also a home office and a media room with bar and fridge.

It is also well located, close to local beaches and attractions.

The north coast town is popular with those in the New England area of NSW, with Mrs Bullock originally from the New England town of Armidale.

The purchase comes as cost of living and raising rates are forefront of homeowners' minds.

It follows the news last year that Prime Minister Anthony Albanese also bought a coastal investment property, this time on the NSW Central Coast, which also attracted headlines.

Following the latest rate rise Mrs Bullock said that further rate rises could be on the horizon.

In March the RBA raised the cash rate 0.25 of a percentage point, bringing it to 4.1 per cent.

She said in a press conference following the March meeting that she understood the rate rise was "tough news for people with mortgages".