*This article was originally published in the November 2019 Midland Express
If you live in Central Victoria, it won’t come as a surprise to you that the property market remains buoyant.
Over the decade, an influx of tree-changers and retiree downsizers have steadily moved into the area. With promises of a more affordable home, an engaging community lifestyle and proximity to Melbourne’s CBD, Kyneton has seen unprecedented growth over the last couple of years.
Prices in Kyneton have risen 12.7 per cent in over a year with median house prices sitting at $580,000 (the national median is around $485,00). The previous year saw a growth of 8.2 per cent.
While the demand for properties in Kyneton remaining high and with limited stock within the local township area for both sale and rent being available, agents are finding interest in areas like Malmsbury, Trentham and Taradale is becoming common.
But it isn’t just first home buyers moving into the community. A sophisticated creative class and professional community, along with couples and individuals who are at the end of their working careers who support the strength of the property market.
Rentals continue to be in hot demand in and around the Macedon Ranges. Tourists and weekenders who delight in the prospect of a move to the country often seek a rental opportunity to “try before they buy”. Add to that a burgeoning seasonal workforce requiring accommodation while working for agribusiness and livestock producers, the rental yield for investors is fantastic to say the least.
With limited stock and land releases in and around Kyneton, and the continued demand for housing, the Kyneton market does not look to be cooling any time soon.
Life in the country sure is sweet, but maybe more so for those considering a sale.
For more on the property market, head to Jenniferpearce.com.au