Rural retreats around Yass and Murrumbateman are achieving record prices as demand for lifestyle properties close to Canberra remains strong.
A five-bedroom homestead on 15 acres right on the banks of the Yass River set a regional record for a single-dwelling property when it sold for $2.45 million in January.
The resort-style property at 4 Dairy Place, Yass, was purchased by a Yass couple downsizing from their nearby 600-acre Border Leicester stud.
Sales agent Graham Bush from Independent Property Group’s Team Bush, says Melbournites and Sydneysiders are discovering the idyllic country lifestyle on Canberra’s fringe, while large property owners from the regions are choosing to downsize closer to the city.
“This couple wanted to downsize but still have space and that lovely country setting,” he said.
“The stunning five-bedroom homestead and surrounding countryside with direct access to the Yass River made it highly sought after.”
Negotiations between two buyers crept up to $2.4 million, but Graham said it was the extra-large sheds that encouraged the final successful offer of $2.45 million from the locals.
“This was a dream property for many people, but it was the huge sheds that pushed up the final offer,” Graham said.
“The husband has a car collection and restores vintage cars and his wife fell in love with the house, so it was perfect.”
The sale topped a 10-acre property in Dog Trap Road that was also sold by the Bush team for $2.4 million at the end of 2021.
Another member of Team Bush, Tammy Bush, said the sale reflects the strong results being achieved for lifestyle properties and vacant land in the region, despite a slowdown in other areas of the state.
She expects to attract a premium price for a similar property that has hit the market at 162 Yass River Road, Manton. The modern five-bedroom home, set on 25 acres against the banks of the Yass River is set to impress with its country character, sweeping views, pool and tennis court.
“It’s the perfect home for a family to enjoy,” she said.
As well as its proximity to Canberra, Tammy says the growth of the region, with new schools, medical facilities, great shopping and the good old-fashioned friendly community, is proving very appealing, especially to families.
“It’s a really great little community where everyone is happy to help each other out. Families love to feel that connection to their community and to have space for kids and dogs to run around. Farm kids always end up great kids,” she said.
“Murrumbateman is a really up-and-coming area, with Little Athletics and a footy team. I think this region is just going to get bigger and better.”
She said many families were seeking a more sustainable lifestyle and going off-grid, with most households in Murrumbateman using solar power.
The region offers the ideal lifestyle for semi-retirees, working couples and families alike, with a real mix of buyers flocking to the area.
“We have families and young couples relocating to the ACT for the good jobs and the good pay, and when they realise there are properties within 30 or 40 minutes of Canberra CBD that are much larger and more affordable, they’re snapping them up,” Graham said.
“If you’re coming from Sydney, a half-hour commute to work in Canberra is nothing. And, from Yass, it’s a much nicer drive without the gridlock.”
He said working from home was now a preferred lifestyle choice for many, and moving to the countryside meant people could have a large home on a big block with an office overlooking the rolling hills.
“Residents can drive to work in the city two or three days a week, and the rest of the time enjoy the open space and fresh air that working from home in Yass offers,” Graham added.
With less vacant land on offer in Canberra, land prices in the fringe townships have also experienced a significant increase, with blocks that were selling for $220,000 18 months ago in Yass now going for up to $390,000.
Blocks in the Wellington Estate started at $230,000 when the subdivision was released, and the latest sale reached $450,000.
With work underway on the Barton Highway upgrade, Graham said buyers can finally see that they will soon save an extra 10 minutes on their drive to Canberra.
“Access is just going to get better,” Graham said.
Graham and his twins, Tammy and Jayson, together with Kate Bilson and Briana Kaleb, make up the highly successful Team Bush, with most of the team living in the Yass and Murrumbateman area, providing them all an intimate knowledge of the region.
“We know why people love living here and that’s why we’re always spruiking that it’s such a great community. And, based on the demand, people are certainly starting to catch on,” Graham said.
With a few more rural properties about to hit the market, contact Team Bush at Independent for your chance to start living the dream.