A more relaxed, semi-rural lifestyle in the Yass Valley and Murrumbateman may soon become a reality for some buyers, as more vendors list homes for sale in preparation for the spring selling season.
MARQ Licensed Agent Sam McGregor said a flurry of vendors were preparing to take their homes to market, amid renewed optimism and greater motivation to sell this spring.
“The sun’s coming out, there are buyers around and there are a lot of high quality properties coming to market in Murrumbateman and the Yass Valley,” Sam said.
“I’ve seen a lot of interest from vendors. I’m speaking with more potential vendors than ever right now – people are getting ready to take their homes to market in spring.”
Sam, who has lived in the Yass Valley for 10 years and is the MARQ specialist for the region, said the area offered larger landholdings and a unique lifestyle close to Canberra.
“In Murrumbateman and Yass there are a few distinct price segments. There are entry level properties that are sub $750,000 and that section of the market is really competitive at the moment because a lot of people want to buy property so they can stop paying what they see is exorbitant rent,” he said.
“Then there’s the $750,000 to $1.1 million price bracket, which is the people wanting to upsize a bit. That segment of the market has been slower over the last six months but right now these homes are selling very well because the lower bracket is moving really well.”
“The $1.1 million to $1.5 million segment is definitely an aspirational price bracket because these are very special homes. There are a lot of really high calibre properties in the semi-rural lifestyle market around Yass and Murrumbateman – architectural homes on two to five acres.”
Data from realestate.com.au shows house values in the township of Yass surged by 11.9% in the past year, while Murrumbateman experienced a 6.3% slip.
Median house prices for Murrumbateman have surged dramatically in the past five years, peaking at $1.355 million in March and cooling to $1.265 million in July. The median price is up $870,000 the same time five years ago.
In Yass, median house prices have climbed from $455,000 five years ago, peaking at $770,000 in March, before edging down slightly to $750,000 in July.
Sam said the real estate market in Murrumbateman and across the Yass Valley was showing signs of positivity.
“The market has been dysfunctional for six to nine months and nobody has really wanted to buy or sell, but right now the market is moving beautifully, it’s functioning very well,” he said.
“Probably for the first time in the last six to nine months, there’s a lot happening.
“Most homes are selling in an appropriate timeframe showing that vendors are meeting the market appropriately with their price expectations and high quality homes are very competitive.
“I’m still measured in my approach and my view to the market – things aren’t red hot, but now is a great time for people to be starting to make some balanced, rational decisions about how they want to live their lives.”