House buyers wowed by low cost of living Ky property market going strong

February 09, 2018

KYABRAM has become a housing hotspot for first-home buyers over the past year.

KYABRAM has become a housing hotspot for first-home buyers over the past year.

With government incentives available, Walker Real Estate director Justin Barnett said 2017 saw a lot of savvy investors looking to get themselves into houses around the area.

“A lot have been purchasing established homes around the area, however there have been some choosing to build,” he said.

“The incentives have been one of the main drivers in the marketplace at the moment; however we’ve also seen a lot of interest from out of town buyers.

“It’s been people who may be trying to escape the hustle and bustle of the city and have a couple of acres to live — particularly in areas such as Rushworth.

“We’ve had a few properties there which were purchased by city buyers.”

During the past year the Walker Real Estate Team sold a range of properties valued from $35,000 to $600,000.

“Last year we had properties which were well presented and priced well for the market. Price accuracy was a key point to a quick sale and some really good outcomes,” Mr Barnett said.

“That’s not to say they were too cheap, they were positioned well in the market and so they were attracting interest but also giving the vendors the best return.”

It’s a similar tale from Hinchliffe and Greed for 2017; director John Lilford said there has been a lot of interest in Kyabram from out of town buyers.

“While we’ve had people moving to be closer to families and things like that, we’ve seen a lot of people moving from larger centres such as Melbourne,” he said.

“A lower cost of living is one of the main drawcards for Kyabram — it’s very attractive to buyers in terms of the location and services we have to offer.”

Hinchliffe and Greed had a strong year of sales with their highest valued rural property selling for $1 million and their residential sales ranging from $200,000-$700,000.

And predictions for this year are looking promising as realtors expect to see the trends continue.

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