*this article first appeared in the Midland Express in February 2019
If you have been anywhere near print news or digital media lately, you are sure to have been exposed to stories about the falling house prices in Australia, with Victoria forecast to be the hardest hit.
We are told that house prices are falling, and mortgage interest rates are rising, so anyone doing anything with property are likely scratching their heads and wondering what it means for them.
The good news is that it seems that Kyneton and the Macedon Ranges are one of the few regions in Victoria that is and will continue to experience buoyancy and growth.
Property data firm CoreLogic’s latest Pain & Gain report showed that every house or unit sold in the September quarter of 2018 within the Macedon Ranges made a profit, bucking a state-wide trend of tumbling prices.
So what makes Kyneton and the Macedon Ranges in particular seemingly bulletproof from a nationwide plummet in house prices?
Regional country areas like Kyneton, Bendigo, Ballarat and Geelong are still experiencing considerable growth, in part to still affordable stock and access to metropolitan areas. The outperforming of the Melbourne market is also due to the value for money buyers get in regional areas – larger homes, larger plots of land and more cost-effective living.
As a regional town, Kyneton offers a sophisticated culture unlike any other. Events like the Lost Trades Fair and The Kyneton Music Festival not only attract tourists and day-trippers but appeal to individuals buying in the area who seek out a like-minded community of creatives and culture makers.
Growing communities also mean a fresh opportunity. With the relative affordability of housing compared to metro areas, low crime and access to infrastructure means the demand for stock will increase. The potential in this region is continuing to reveal itself, particularly for those in the market to buy or sell.
In short, don’t worry about the market downturn if you are thinking of selling in Kyneton