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Jukes says Piper Street offers a lot of
character. He describes it as the town’s
“The bluestone and cobblestone paths
are scattered through Piper Street and
High Street and there are significant old
red brick and bluestone buildings.
“One of the challenges with that today
is trying to give these buildings a purpose
and a currency. We don’t want to lose the
external beauty of the old buildings but
we need to work in a way to give them
purpose and a value to the community.
“I think you see quite a few really good
examples of things built in the 1880s and
with good architectural thought it serves
an important community purpose. That’s
what we’re looking for and the Mollison’s
building in town is a really good example
of that. It was the old bank of New South
Wales building, two-storey and in quite an
ordinary state and what they’ve produced
from that is quite substantial and now
high-level, four-star accommodation in the
middle of town.”
Helen Jens, sales consultant with
PRDnationwide, says in her experience
the holiday accommodation and bed and
breakfast businesses have been difficult
“I’m aware of a few people who’ve done
this, but have closed down after a few
years,” she warns.
“But there have been some big changes
to the market in Kyneton recently and the
artistic community has certainly had an
¿ COUNTRY ESTATES
Buyers looking for something a little more
removed from the town centre can also
venture further out to find larger blocks
and even larger homes.
“Buyers can get a big lifestyle estate.
There are big Chateau, French-type
homes out of town, but for entry-level
investors I recommend anything closer to
town for the best returns,” Osborne says.
Along with artists, foodies have also
made Kyneton home, establishing “a bit of
a movement here”, he says.
“A lot of foodies have come here and
set up gourmet food stores. Combine that
with the antique shops and art and craft
and a lot of people are heading here for
Osborne says investors will find very
competitive entry-level prices for smaller
dwellings close to the town centre.
“I think the entry points are very strong
here. The places that are between the
$350,000 to $450,000 bracket are very
popular. For $350,000 to $450,000 people
would likely get a double-fronted, two-
bedroom place that’s on a smaller block.
“People are looking for the older stock,
the ones that are close in town. They
might be weatherboard but a Federation-
style dwelling, post or pre-war tends to be
Jens says young professionals who can’t
afford to buy in Melbourne and want extra
space are moving to Kyneton.
“The other thing we’ve noticed is there
are a lot of lifestyle properties now selling,
we consider them to be the one acre and
above properties where people have a few
horses and want to live on bigger blocks.
“Those properties have been going
The charm of rural living
The Goodman family has been residents
of Kyneton for just over six years, having
moved to the country town from the big
smoke of Melbourne in 2008.
Richard and wife Jessica have just sold
their home in town for $450,000 and
purchased a sprawling 40-acre property
slightly further out for $570,000.
The acreage boasts orchard and berry
plantations, as well as an original mud brick
home built by the previous owners.
Richard says their two children Poppy,
seven, and Henry, five, are very excited
about the move to a more rural setting.
“When we first moved to Kyneton we
weren’t sure if we wanted to live in town or
out of town on some acreage,” Richard says.
“At the time we had one child under two
and a baby on the way and thought living
out of town would be a bit of a challenge for
city folk like us.
“But having now lived in town for six years
we’ve become acclimatised to the country
lifestyle, and the kids are older so it’s a good
opportunity to move out to some land.”
The Goodmans managed to secure a
reasonable equity gain on their home in
town, originally purchasing it for $260,000
and selling it for $450,000.
“When we bought in Kyneton the previous
one to two years had seen property prices
go up by about 20 per cent and when we
bought that house a lot of the old time
locals thought we had paid way too much
money for it, but in retrospect it’s a pretty
“We bought for $260,000 but we did
spend a bit of money on it. We didn’t get
much change out of $100,000,” he says.
The quarter-acre block in the heart of town
had a 1920s three-bedroom cottage on it
and had been owned by the same family for
“It was a lovely little place, we fell in love
with it when we saw it. But nothing much
had been done to it for a long time. It needed
an awful lot of work when we bought it
and we undertook all the major structural
renovations to get it up to standard.
“We purchased the land out of town for
$570,000. It’s 40 acres with water for
irrigation, which was the main attraction.
“For the last year or so I’ve been growing
produce for farmers’ markets and local
businesses and have been farming someone
else’s land, but now seemed like the right
time to farm my own land.
“We intend to hold the property we just
bought for some time. A family who’d been
there for about 20 years previously owned it.
It’s a four-bedroom dwelling and a lot bigger
than the previous home we lived in.
“We’ve just had the interior walls rendered.
The exterior is still very rustic, but we’ll
render that at some point in the future.
“It’s established and our idea is to build on
that and develop it further and hopefully
turn it into something that has a broader
appeal in the future when we get too old to
manage 40 acres of planting.”
Names: Richard and Jessica Goodman
Purchase date: December 2013
Purchase price: $570,000
Strategy: Buy and hold
Henry and Poppy enjoy their country home
The mud brick house outside Kyneton
THE STATES // VIC
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