Macedon property prices on rise

By Jessica Micallef

Now is the time for house hunters to enter the property market in the Macedon Ranges, according to a local real estate agent.

Figures released last week by property data and analytics provider CoreLogic revealed a 1.3 per cent rise in dwelling values over the past month in the Macedon Ranges.

The data also showed a 2.9 per cent rise in the last quarter, despite a 1.2 per cent annual drop.

Keatings Real Estate managing director John Keatings said land market was “fairly active” in most Macedon Ranges townships but varied from town to town.

“There is little residential land available, particularly in Woodend,” he said. “But there is a reasonable amount in Kyneton, Gisborne and Romsey.”

Mr Keatings said there hasn’t been as many buyers in the Macedon Ranges as there was two years ago.

He attributed this to a lack of confidence in the community and the retail industry “doing it tough”.

“Car sales are down [and] the airlines are doing it pretty tough,” he said.

“A lot of people were spooked when the interest rates changed earlier this year. This has made people a little but uncertain.”

Despite a lack of buyers, Mr Keatings said the Macedon Ranges was still a “very desirable”
area to live. “In my time, I have never seen better value than what is on offer in the Macedon Ranges when you compare the area of land and the amount of infrastructure you get on it … compared to the metropolitan area,” he said.

“Being able to commute to Melbourne, the northern suburbs, the western suburbs, industrial areas [and] to the airport. It’s a very desirable area to live in. “All these facilities are available. There is clean air, very low crime rate and most importantly the community spirit. People don’t realise how good the community spirit is until something goes wrong and the community comes to their assistance.

“You can achieve that and experience that better in small country towns than what you can in metropolitan areas.”

Mr Keatings believes property values will remain steady over the next six to 12 months.