It’s a seller’s market out there!
In the last three months, Kyneton property prices have risen a huge 4% and 10% in the last 12 months and it doesn’t look like the market is slowing down anytime soon.
Recently, neighbouring suburbs Macedon and Mt Macedon recorded a median house price of $1 million for the first time and we have been seeing more and more properties priced in a similar bracket in the Kyneton region.
A new report by the Real Estate Institute of Victoria (REIV) showed the average duration a property in the Macedon Ranges was on the market for was reduced by more than two weeks across the last year.
The data highlighted that regional towns were part of a trend across Victoria, with properties being purchased in the shortest amount of time since 2010 – an average of less than 40 days on the market across the state. We are now looking at Kyneton properties being on the market for less than three months on average – this is a huge difference to what we were seeing ten years ago.
Last year we were predicting a drop in sales with the uncertainty of the global pandemic on our doorstep, but with the change in consumer behaviour, working from home options and lifestyle priorities the market has pivoted, and we are seeing an increasing number of Melburnians moving to regional areas.
Buyer demand is high and there are often multiple offers on a property making for a highly competitive market. There is an increased interest in private property listings and a quick view of real estate websites shows there is not a great supply of properties in our area.
If you have been thinking about selling, upgrading or downsizing, perhaps it’s time to look at your own property and consider your options. This could be an excellent time to assess your biggest financial asset and make hay while the sun shines!
Let’s discuss your options and the ever-changing and growing Kyneton market. Book an appointment at jenniferpearce.com.au.
With all these swift lockdowns, border closures and snaplock decisions based on our health and safety taking place around Australia, it can feel as though we are living in an almost post-apocalyptic world – similar to what could be seen in a television mini-series.
There’s a thirst and a drive for a sense of home and of finding comfort within one’s space and in this current ‘seller’s market’ we are seeing not only a demand from city dwellers seeking a tree change but from potential buyers looking for ‘bush blocks’ to create their own haven away from the noise and news of the world.
These are unprecedented times – a saying that we have become adapted to using over the last 18 months. In times of fear and unknowing, we reach for our comfort kits whether this is a block of chocolate or pottering in a garden of one’s own.
Bush blocks are lifestyle properties, meaning you can change the way you live by adapting to your own landscape through developing a garden to become self-sufficient, to raising chooks or livestock, adding solar panels and embracing your very own patch of land.
We have seen a few blocks and properties come on the market offering this new lifestyle and pace. As we enter a new financial year, financial and lifestyle goals become apparent. Perhaps a bush block is what you have been seeking to relax into the comforts of home and nature? New financial year, new you.
Discuss bush blocks and lifestyle properties in the Kyneton region today. Book an appointment to discover the Macedon Ranges market at www.jenniferpearce.com.au
It’s no secret… Kyneton is one of the coldest places in Victoria during winter. For buyers looking to secure their new nest in the Macedon Ranges, I recommend rugging up and heading to an inspection this winter before choosing to hibernate until spring.
During winter, Kyneton puts on a sparkling show. Once the morning frost lifts, the winter wonderland appears offering many beautiful opportunities for buyers venturing into the market.
Whilst spring is considered to be the time to buy and sell property, it’s worth considering winter as a possible moment to finding your dream house and then enjoying the wattle appearing outside your new north-facing window by the time spring comes around.
One of the biggest advantages of buying a home during the coldest months is the lack of competition. While your fellow buyers are at home warming their toes, you can be inspecting and negotiating and warming up your wallet. Winter buyers will have a much better chance of scoring their property.
There are fewer houses on the market during winter but where quantity lacks, quality rules. This is the time to compare the market and negotiate your best offer.
Kyneton is very cold and future country dwellers need to know what they’re getting into. Winter is the perfect time to see if the house is warm enough and will protect you from the cold, wind and rain. The colder weather will give you a good indication of how the winter conditions affect the house and if there are any issues with draughts, drainage, natural light and the heating system; this is a good time to include this in your negotiations.
So what are you waiting for? Rug out and step out into Kyneton’s winter wonderland. You might even find yourself a heartwarming house ready to move in to by spring. Say hello and chat about the Kyneton market by booking an appointment today.
Have you ever saved up your hard earned cash to eventually go out and purchase that one item that you have had your eyes on forever…. And then it is unavailable?
Purchasing a property can have a similar affect, so it pays to plan ahead and seek pre-approval. If you have decided that you are ready to buy a home, you might find yourself racing to your nearest realestate board or jumping online to find your dream house.
Hold your horses!
We are all seeking approval in some way or another, and a pre-approval letter from a choice lender shows that you’re a serious buyer ready to make a serious purchase.
We are living in a highly competitive market in Kyneton and regional Victoria. The demand is high, and properties are rushing out the door, with hungry buyers patiently sitting tight on a waitlist.
By arranging a pre-approval letter through your mortgage lender, you become very appealing to the seller. And this is crucial in the current housing market.
A pre-approval letter states that there is a lender out there who believes you are capable of owning and paying for a house. The letter – which is valid for between 60-90 days – locks in a mortgage rate and is your ticket to ride when you commence your house-hunting.
Seek pre-approval from your lender of choice and show the seller you’re serious, then come and speak to me about the current property market in Kyneton and surrounds. And let’s find you a home. For further information and to make an appointment visit www.jenniferpearce.com.au
Buying a house is, for many, the largest financial investment you will make. It pays to be diligent when inspecting a property, but what is it that you should be looking for?
You could liken looking for a property is similar to looking for the perfect partner. Sometimes a property might show cracks, some sagging or leaking – all signs of age. It can be easy to be distracted by a beautiful designer couch or stylish interior decorations, but it’s what’s under the surface that counts.
It’s important to conduct a simple maintenance check before you purchase… this could be the difference between buying a dream home or a very expensive nightmare.
At your next property inspection, keep an eye out for the following:
- Water stains, corrosion and mould.
- Sagging ceilings.
- Unlevel floor.
- Large puddles of water in the backyard.
- Fine cracks in the plastering inside.
- Bathroom and bedroom mould on the ceiling or floors.
If you are enthusiastic about a property and you think you’ve found ‘the one’, a building inspector can offer an expert opinion and guide you through options for solving any building issues.
A dream home is one that you create. If you remove all the objects within a property upon inspection and assess the heart of the house, you might be surprised with how close you to finding love you actually are.
To discuss your property desires and dilemmas, contact Jennifer Pearce who can provide you with an assessment of the local property market. Visit jenniferpearce.com.au for further information and to make an appointment.