Drouin lifestyle homes in hot demand amid autumn listing boost
Balanced market returns to West Gippsland townships
Acreage and lifestyle offerings in West Gippsland are hot properties as buyers rush to secure properties before winter.
And buyers are spoilt for choice as more properties are coming on the market in the area, according to Barry Plant Drouin director Jack McMaster.
“We’re seeing a last-minute autumn rush for homes in Drouin, Warragul and surrounding towns, as buyers take advantage of the good weather,” he said.
Mr McMaster anticipates stock levels will increase after the election, which is good news for buyers, particularly in the sub-$600,000 price point, where there is a limited supply of homes available.
“On the whole, the property market is more balanced in the region now,” he said.
“Prices are steadier and not being blown out of the water like they were last year.”
Interest from metropolitan buyers, especially from Berwick, Beaconsfield, Endeavour Hills and Rowville, continues to be strong, especially for larger acreage properties.
“We are also getting calls from buyers from inner-north suburbs like Coburg and Brunswick, who are wanting the country lifestyle,” Mr McMaster said.
“Many of them work part-time or full-time from home, and Drouin or Warragul are an easy commute to Melbourne’s CBD by rail or road.”
A family from Rowville snapped up a 4304sq m lifestyle property at 17 Bunjil Drive, Drouin, for $1.52 million.
“Apart from a beautiful 53-square house with a large shed and on a huge block of land, this property offered them affordability and value for money,” Mr McMaster said.
“The land size is nearly four times the size of their home in Rowville, which was similar in value.”
Located 90km east of Melbourne, Drouin is the second largest town in the Shire of Baw Baw, and the median house price has grown 17.6 per cent in the past 12 months to $615,000.
City buyers were also drawn to the three-bedroom character cottage on 800sq m at 10 Amber Court, Drouin, which sold within a week for $770,000.
“We had two offers from local buyers, but there were plenty of metro buyers interested, including one from Mulgrave who was very keen,” Mr McMaster said.
“In the end, the home sold to a buyer who was downsizing within the town.”
Another local downsizer snapped up a modern two-bedroom unit at 2/94 Lampard Road, Drouin, for $440,000.
The entry-level home near Bellbird Park, train station and shops, attracted first-home buyers and investors, and sold within a week,” Mr McMaster said.
In neighbouring Longwarry, about 80km from Melbourne, an 8331sq m vacant block at 52-54 Drouin Road changed hands for $1.6 million.
“This was a great result for this property with developments on either side, ” Mr McMaster said.
“And the buyer, a developer from Berwick, plans to build units on the site, subject to council approval.”
Mr McMaster noted these buyers were looking towards the outer southeast corridor for opportunities.
“Properties like these are limited in Melbourne and developers are branching further out towards West Gippsland where there is potential for capital growth,” he said.
In nearby Shady Creek, a three-bedroom house on 4ha at 943 Nilma-Shady Creek Road, has hit the market and is attracting city buyers wanting extra land for a hobby farm.
“This 10-acre block is about 15 minutes from Warragul and comes with a fully renovated farmhouse,” Mr McMaster said.
Barry Plant Drouin is the number one selling agency in the township and has access to an extensive range of properties for sale - including some that aren’t being advertised yet..
“We can offer buyers opportunities to secure the property of their dreams,” Mr McMaster said.