More Canberra buyers are honing their attention on the Yass Valley, with strong demand for bigger landholdings and the region’s attractive community and lifestyle offerings.
MARQ Licensed Agent Sam McGregor said the frenzied regional relocations prompted by COVID in 2020 had now eased and there was a genuine band of buyers making “more rational, conscious decisions” about moving to the area.
“We went through a boom where every man and his dog wanted to buy regionally and now people are being more rational and realising they probably can’t work from home five days a week in perpetuity,” Sam said.
“What we are finding now is that people looking to move out this way now are making more considered decisions. It’s not solely about working from home, but they are also realising how much of a beautiful lifestyle opportunity is presented to them so close to Canberra.
“Some people want to move out here move because they want to raise a family in the country. They want a couple of acres, they want some chickens, some dogs and a horse.”
Sam, who raises his young family in the Yass Valley after moving there nine years ago, said he not only sold property in the region but loved the community and all it has to offer as a resident himself.
Data from realestate.com.au shows Murrumbateman has experienced 19.8% growth in house values in the past year, while the township of Yass sustained a 19.6% increase.
Median house prices for Murrumbateman have surged dramatically in the past five years, now sitting at $1.3 million – up from $835,000 the same time five years ago.
In Yass, median house prices have climbed from $421,500 five years ago to $725,000 now.
“What I’m seeing is there is actually some really high quality property coming to market and some really good buys for people looking to make that move, relative to what they were paying before,” Sam said.
“It’s fair to say that prices out this way have probably come down 10% from their peak. Earlier this year and late last year we were seeing some crazy prices out this way, but the pricing is now more rational.”
He said the region had properties for most buyers.
“In my opinion, the value proposition for the Murrumbateman-Yass corridor is a lot higher than Sutton and Gundaroo.
“Sutton and Gundaroo have both gone through major booms in the past 12 to 18 months. Those areas have a lot of land coming to market so there are great opportunities to buy and build, but the values there are notably higher.
“Sutton is 15 minutes from Canberra and Murrumbateman is 25 minutes. What you can buy in Sutton for $2 million might cost you $1.3 million in Murrumbateman. If $2 million is out of reach, buyers are looking 10 minutes down the road.”
Sam said the spotlight was also on Murrumbateman for its growing amenity, with a new primary school due for completion in 2023 and the new Fairley Square shopping centre.
“Buyers that are coming out this way have their expectations reasonably set because they can see what has sold and know that they’re not necessarily going to get a bargain out here, but they are paying for a beautiful lifestyle,” he said.
“It’s easy for me to sell this lifestyle because I live it, I work amongst it and I really believe in it.”