By Jessica Micallef
Now is the time to enter the housing market in the Macedon Ranges, with house values set to rise, according to a local real estate agent.
Figures released by property data and analytics provider CoreLogic in its latest Pain and Gain report revealed 100 per cent of homes sold in the Macedon Ranges in the September 2019 quarter, sold at a profit.
The data also revealed a median profit of $380,000 during that period.
Keatings Real Estate managing director John Keatings said it was “no surprise” properties
sold at a profit.
“There has also been a general lift in confidence in the lower and middle market in all areas of Victoria, particularly in the Macedon Ranges,” he said.
“Since the last federal election, the market was going through a correction but was spooked by potential changes that would affect investment properties, particularly had there been a change in government.
“And coupled with historically, unbelievably low interest rates, people still see property as being a sound long term investment.”
Mr Keatings labelled the Macedon Ranges real estate market as “generally active”, attributing this to the many facilities and services.
“It’s a very sought-after area,” he said. “Town planning restrictions are very tight and being within one hour of the Melbourne CBD and other employment areas in the western suburbs and Tullamarine areas helps.
“Also we’ve benefited from the tree change movement of the last 15 to 20 years.
“Events like Elton John at Hanging Rock give the area very good publicity and we’ve got clean air.
“I may be bias but Australia is one of the best countries to live in, Victoria is one of the best
states in Australia and the Macedon Ranges is one of the best places for Victorians to live in.”
Mr Keatings believes property values will remain steady heading into 2020.
“I think most people can expect that their investment … will be a sound and wise decision but having said that, property investments need to be looked at as a long term view for at least five years, preferably 10 [years],” he said.