A beautiful Victorian house nestled in the tranquil countryside is the perfect tree change one can ask for while living in the bustling metros. The expansive villas, lush greenery, laidback lifestyle, mesmerising sunsets, clean air, starlit nights and peaceful environs of the towns exude a rustic charm that is hard to find in cities.
Getting away from the concrete jungle, pollution and the high decibel levels has become an earnest desire among the homebuyers. They cannot be blamed for asking for this change as the metros have made life materialistic, unhealthy and extremely fast-paced. There is little time for oneself, family members, friends, neighbours and sitting back and admiring nature.
Naturally, the investors are now looking at small historical towns to purchase luxury property for sale in Australia. The name that has been standing out among the transactions is the town of Macedon in Victoria.
Positioned below a mountain, the region is grabbing all the attention for its 19-century gardens and prestige homes. Buying a plush abode in this town is indeed an accomplishment. Let see how it is making its way up in the property market.
The Astounding Setting Of Macedon
With the rising need among people to enjoy the old-world charm right in their homes, Macedon has become a part of most of the property wish-lists. Its glorious setting is a sight to behold during the fall and extravagant mansions can take your breath away.
Located 64-km away from Melbourne, the town has a decent population of 1335 and was established by the affluent people of Australia to be utilised as a resting place for summers. Its salubrious weather makes it an ideal respite from the high temperatures of Melbourne. Its Venetian residences have become historic hotspots including Alton, Campaspe Country House, Drusilla, Braemar House, Penola, Timsbury, etc.
Additionally, there are several private gardens that make autumn even more colourful and picturesque in the town, such as Ard Rudah, Cameron Lodge Garden, The Garden Alton, Hascombe, Dreamthorpe Garden and many more. The tree change scenario offered by this town is second to none.
The good thing is that it is not just meant for the baby boomers who have sold their urban homes to live in a town. Macedon has ample spaces that can resonate with young couples like quality schools, cosy cafes, attractive galleries and more.
The Growing Demand For Macedon
Several factors have contributed to the rise in the demand for trophy homes in Macedon, which is known for opulent houses and pastoral outdoors. Firstly, investors looking to expand their property portfolios are now looking at scenic backdrops away from the gridlock of the cities.
The super-rich are picking up unique places including villas in the hinterland to bask under the splendid sun. Secondly, lifestyle properties available in Macedon are offering a lot of things which are becoming difficult to find in Melbourne and Sydney, such as massive spaces, lavish gardens, and beautiful environs.
Thirdly, these houses are priced much lower than other luxury properties in metropolitan areas and suburbs. Although the amplifying demand has given a boost to the house prices, it is still value for money for the home buyers. Fourthly, the town has come up in a big way with a lot of high-profile individuals making it their second home.
Also, several baby boomers are utilising it as retirement retreat. Lastly, the location of the town makes it easily accessible from the city and its balmy weather adds to the irresistibility factor. It is safe and has a active community set-up which is missing from the lives of the urban penthouse-living wealthy population.
House Price Surge In Macedon
The ultra-rich have created a stir in the housing market by showing interest in Macedon, a historically significant town close to Melbourne. According to CoreLogic, the median dwelling price in Macedon is close to $700,664 which is the second-highest among popular hinterlands close to the capital cities. In five years up to August 2018, the growth in the value of Macedon homes has been approximately 2.6% while the surge in 12 months to August 2018 is a stunning 7.8%.
This strong growth is just one step behind the surge experienced by the Gold Coast hinterland in Queensland. A lot of super-rich families are looking at the option of buying a summer home in the peaceful landscape to catch a breath of fresh air and let their kids enjoy a different lifestyle, which can enrich their all-round development.
The heritage homes are being listed in the range of $7-8 million currently. This price bracket was unheard of in the region until recently. With the legacy of Australian history behind them, these million-dollar mansions have become the top grosser in the region. If that was not enough, some architectural marvels have been set up in the area to lure the elite segment like the house on Tucketts Road in Mount Macedon.
The 20-acre property overlooking the hill is a resplendent dwelling which was listed in the book ‘Pure Luxury, World’s 100 Best Houses’. Besides these gems, there are several resort-style and renovated properties which offer scintillating views and sumptuous living.
Investor Lending Is On The Rise
Although the premium segment was not affected by the downturn in the housing market, the recovery of the sector is a positive sign for real estate in the country. It means more people are buying homes and prices are showing an upward trend. The credit is also flowing smoothly and the amount of capital borrowed by home buyers has gone up by 3.9% to reach $32 billion in July 2019. It is the highest jump in over four years and the auction clearance rates have also soared.
Investor lending has shown promising changes with a 4.7% rise and the low mortgage rates are providing the required support. Naturally, this has boosted the confidence of investors who are acquiring properties without any inhibitions.
Regional Victoria is a shining star at the moment and has gained the attention of the high and mighty with a bang. If you too are looking for luxury real estate in Australia, then heading to Macedon would not be a bad choice. You can have the best tree change here in a palatial mansion that matches your standard of living.