Kyneton’s home boom

Relatively low prices and easy access to Melbourne and Bendigo are fuelling interest in the Kyneton area.

Latest figures from the Real Estate Institute of Victoria reveal that Kyneton recorded the state’s second-highest housing capital growth rate for the year to March 31.

The median price for a three-bedroom Kyneton house has increased 13.5 per cent to $420,000.

Bendigo topped the state with growth of 16.9 per cent, taking its median to $397,000, while Ballarat Central was third (up 12.7 per cent, to $332,500).

PRDnationwide Kyneton branch manager Helen Jens said that with its train and freeway access, Kyneton was increasingly seen as an affordable and attractive alternative to Melbourne’s fringe suburbs.

‘‘There’s a very strong migration of professional people to the area, particularly young professionals,’’ Ms Jens said. ‘‘A lot of it is to do with the facilities here. Piper Street and the food is important; the hospital is important, the schools … a lot of the talk is about how Kyneton is seen as one of the last places that still has a real sense of community.’’

Ms Jens said the overwhelming majority of her sales in the past two months had been to people from outside Macedon Ranges.

She said the interest of out-of-towners was also reflected in the rental market, with many people testing the waters before making the decision to buy.

McColl Property managing director Jan McColl said there was also plenty of interest in nearby Malmsbury.

‘‘We’ve just sold four properties there in the past two weeks, so it can’t be discounted as a destination, either,’’ she said.