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14 August, 2023 / Category: Blog
According to the Quality of Life Index, the Macedon Ranges is one of Australia’s most appealing regions. For anyone who has spent considerable time there, it’s not hard to see why. Situated in Central Victoria, the Macedon Ranges are the area’s crown jewels, renowned for their majestic native forests, the iconic Hanging Rock, and thriving artisanal food and wine industries. As a result, it has rapidly become one of Victoria’s top tourist destinations and an area with highly sought-after real estate.
Positioned between Kyneton and Melbourne, the Macedon Ranges enjoy unparalleled commute times to Melbourne for a regional area. The well-connected train system and the Calder Freeway allow a commute of under one hour.
While incredible trophy assets are for sale in the Macedon Ranges, we’ll also show you some of our favourite areas that allow buyers the country lifestyle at an entry-level price point.
The Macedon Ranges offer a broad spectrum of properties for buyers looking for a tree change or a cool climate weekender away front the hustle and bustle of the city. The Macedon Ranges are well known for the multi-million dollar trophy assets of Mount Macedon. However, several less-known areas offer entry-level properties under the $1 million mark.
While the COVID boom-time demand has dwindled, the past financial year saw an average growth rate of approximately 14%. However, this is now starting to flatten, and lower-quality properties are seeing a drop of up to 10%. Good quality homes are still holding their value, but they are sitting on the market for up to 50 days to achieve this price.
The Macedon Ranges area is renowned for its numerous equine properties, with some world-renowned equine operations. This is due to highly productive, free-draining volcanic red basalt soils. These fertile soils create an ideal environment for breeding and spelling horses. Many of these properties are well-equipped for equine activities, boasting sturdy post and rail fencing and various equine facilities. Each property offers a unique set of facilities catering to the specific needs of horse owners and enthusiasts in the area.
Our local Buyer’s Advocate has extensive equine industry knowledge and understands the essential features needed. If you want to find your perfect equine property, we encourage you to contact us for a complimentary 15-minute discovery call.
Within the Macedon Ranges, the most exclusive real estate market is Mount Macedon, often dubbed “the Toorak of the north.” Properties in the area range from $1.5 million up to $12 million and attract interest from local and Melbourne-based buyers.
As the highest peak in the Macedon Ranges, Mount Macedon is rich in history and boasts immense scenic and environmental value. The allure of natural beauty and a refreshing summer climate attracted Melbourne’s affluent social elite during the late 1870s. The region’s breathtaking scenery, abundant bushwalks, impressive food options, and the warmth of a close-knit community make it an exceptional place to call home.
Properties in Mount Macedon have the unique characteristic of being held for extended periods. As a result, the value drops seen in some other regional areas have been less noticeable here. Homeowners in this area often choose to be patient and keep their properties on the market for an extended duration, waiting for the perfect buyer at the right price. This approach helps maintain stability in property values and contributes to a more resilient local market.
Buyers in the area predominantly consist of the local market wanting to upgrade and families looking to relocate from Melbourne for a more peaceful and serene lifestyle. In the past, the region experienced an influx of baby boomer tree-changers seeking a change of pace, but this demographic has become less prevalent following their mass relocation during the COVID period.
There is more to the Macedon Ranges than the premium properties of Mount Macedon. Buyers can enjoy the relaxed country lifestyle with the added advantage of quick commuting options to Melbourne via the Calder Highway or the train without the price tag when you know where to look.
Some of our favourite and less-known areas for entry-level country properties are Newham, Hesket, Romsey, Macedon, and Gisborne.
Newham and Hesket are both charming country villages near Hanging Rock. They offer the perfect blend of country living with convenient amenities. Newham boasts a general store, café, and Newham Primary School, while Hesket features the renowned Hesket Winery and Hesket Primary School. Residents of both areas enjoy the quintessential atmosphere of a small country town in convenient proximity to both Woodend and Kyneton, providing the facilities of larger towns within a few minutes drive, including Braemar College in Woodend, which provides an excellent option for families seeking private education.
While Newham and Hesket may be less well-known, particularly among Melbourneites, it presents an opportunity for savvy buyers following a decline in value in some instances of up to 10% across the area in the last six months. Astute buyers can now uncover excellent country properties in this region in the price range of $1 million to $1.2 million, provided they know where to search.
Most notably, both towns are less than an hour from Melbourne via the Calder Freeway or the train, providing a better commute to the city than most other regional towns.
Macedon, nestled at Mount Macedon’s base between Gisborne and Woodend, boasts historic charm. The area features grand Victorian homes with lush English gardens, particularly enchanting during autumn’s colourful leaf fall. Homes in Macedon typically offer three to four bedrooms, set on larger blocks, selling around the low $1 million range. Entry-level options are available near $800,000, and listings stay on the market for approximately 47 days.
Nearby, Romsey, just south of Lancefield, showcases a character-rich village ambience, acclaimed wineries, and warm country hospitality. Here, three to four-bedroom family homes on spacious plots can be acquired for around $800,000, with an average market duration of 84 days.
Gisborne, the largest town in the Macedon Ranges, boasts a median house price of $1.15 million. Premium homes in Gisborne typically command higher prices, ranging from $2 million to $3 million. Despite a recent slowdown in the market, newer or renovated homes and those situated on larger blocks continue to sell well. However, older properties tend to sit on the market longer, and their values have dropped over the last 12 months.
Gisborne has seen the emergence of a younger generation discovering the area in recent years. Families are increasingly attracted to the rural lifestyle intertwined with the convenience of schools, galleries, cafes, and an easy commute to Melbourne.
Uncompromising in stature and scale, this stately residence delivers exclusivity and privacy on 8 acres (approx.) of beautifully curated grounds that reveal a pond, orchard, tennis court and heated swimming pool.
Overlooking the rolling hills of the Macedon Ranges, you are just moments from the train station and Macedon township with its boutique shops and eateries, with the convenience of the Calder Freeway is close by as well as the bus stop to Braemar College is on the doorstep.
The price guide is $5.5 million to $6 million.
Contact us for a complimentary discovery call to discuss how we can assist you in negotiating the best price on the property.
This 1,000 sqm property is within walking distance of everything that the Macedon village has to offer. This charming, well-presented home is full of character featuring slate and timber highlights. For those looking to modernise, there’s ample potential for you to personalise and update this inviting space to make it your dream home.
The price guide is approximately $895,000
Contact us for a complimentary discovery call to discuss how we can assist you in negotiating the best price on the property.
To find out more about the Macedon Ranges and the rest of Central Victoria, contact our Central Victorian Buyers Advocate and local resident, Kathy Hodge. Kathy knows the region intimately and can assist you with the best areas to look at, as well as give you an in-depth understanding of the properties available for sale, both on and off the market.
As property advocates and property managers we love what we do. Searching, negotiating and securing the perfect property for our clients, sooner and on better terms.
