Wallan is top home sales performer in Mitchell Shire
Buyers splash seven-figure sums on Wallan homes
Buyers are flocking to regional Wallan, making it the most sought-after town in the Mitchell Shire.
The town in Melbourne’s outer northern fringe is leading the way for the highest number of sales in the area, according to the Hotspotting Exodus to Affordable Lifestyle report.
Wallan is very popular with buyers, Hotspotting founder Terry Ryder said in a Herald Sun report.
“It’s had more sales in the past 12 months, around 300, than any of the Mitchell Shire towns,” he added. Towns in the Mitchell Shire include Beveridge, Seymour, Wallan, Broadford and Kilmore.
“From January 2021 to the end of February 2022, we made more than 400 sales in the Mitchell Shire, and the majority were in Wallan,” he said.
Mr Best attributed the town’s popularity to its established infrastructure, relaxed lifestyle and diverse variety of homes.
Located 51km from Melbourne’s CBD, it has primary and secondary schools, parks, shopping centres, train stations, sports and leisure precincts, and easy access to the Hume Freeway.
“Buyers have their pick of older dwellings, acreage homes and modern builds in new estates,” Mr Best said.
“Family homes in the $550,000-$700,000 range are in high demand because they offer good value for money.”
The median house price in Wallan has jumped 18 per cent to $570,000 in the past 12 months, the Hotspotting report revealed.
While Wallan is an affordable haven for first-home buyers, the town is also a magnet for city buyers wanting the country vibe and families looking for larger lifestyle properties, according to Mr Best.
A young family from Kalkallo looking for more land and wanting to be near the Kilmore International School splashed $2 million on a six-bedroom house on 9193sq m at 14 Pretty Sally Drive.
The luxurious property attracted strong interest from local and city buyers because of its size, numerous living areas and bedrooms, plus its stunning outdoor entertainment area with a bar, deck and pool.
Properties are selling quickly in Wallan, according to agent Sarah Fraser.
A three-bedroom home on 1057sq m at 62 Raglan Street, changed hands before auctioning to an investor for $550,000.
“It was barely on the market for a week and sold after its first open-house inspection,” Ms Fraser said.
The tenanted property was sought-after because of its renovation and extension potential, and proximity to town.
“There is scope to refresh the interior or expand into the deep backyard,” Ms Fraser said.
“There is also the opportunity to capitalise on the block and use it for a dream home or a multiple unit development.”
A luxury five-bedroom house on 4183sq m at 23 Cavallo Crescent, Hidden Valley, a locality in Wallan, attracted multiple offers from mainly Melbourne buyers.
The property near the Hidden Valley Golf Course was on the market for two weeks and was snapped up above the seller’s asking price by a family for $1.5 million, according to Ms Fraser
“They loved the presentation of the home, numerous living zones, Gold-class home theatre, and huge undercover patio overlooking a pool,” she said.