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Green areas in Victoria catchin...

Green areas in Victoria catching up with house prices in Melbourne

Growing numbers of home buyers are swapping the conveniences of city living for a more laid back lifestyle in a rural landscape - and this is having a dramatic impact on property prices in such areas. 

Typical house prices in green change towns such as Macedon and Gisborne currently stand at $665,000 and $625,000 respectively, according to the latest data from Domain.

This means that in terms of property prices, these areas now rival places close to city centres like Reservoir and Pascoe Vale. 

Indeed, the median house price in Mount Macedon is $820,000 - roughly in line with Macleod and Patterson Lakes.

A strong sense of community and larger blocks in a natural landscape are just some of the characteristics that are bringing more and more families and property buyers to the Macedon Ranges. 

It is possible to buy a three or four-bedroom house on half an acre for $665,000 in Macedon. 

However, locals are keen to emphasise the importance of preserving the characteristics of the region, rather than bringing city living out further. 

Jennifer Anderson, mayor of Macedon Ranges Shire, said that the planning minister is attempting to assuage these concerns by looking at the protection of the Macedon Ranges, where every small town has its own unique sense of identity. 

"Because it is so close to Melbourne, it is at risk of continually being subdivided, continually becoming housing and losing that sense of beauty and openness," Ms Anderson remarked. 

She added that it is important for property planning to be sensitive to the character of the towns, so as to reduce the likelihood of it becoming a suburb. 

Andrew Wilson, chief economist of the Domain Group, said demand for property in the Macedon Ranges area is growing, with green changers attracted to the area and good arterials such as the Calder Freeway servicing it. 

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