Properties quick to sell in upbeat Southern Highlands market, says DiJONES

6 September 2018

The Southern Highlands property market is experiencing a period of great interest with properties snapped up by buyers at an extraordinary rate, according to DiJONES.

DiJONES Head Auctioneer, Josh Larsen, says buyer activity at auctions in the Highlands has been strong.

“We have had a good lead up to Spring and our first auctions of the season saw keen participation from bidders.

“Heritage property, The Manse, sold at auction on Saturday (1 September) for $985,000.

Built in 1890 as part of the Presbyterian Church at 2 Alice Street, Mittagong, it was recently restored and transformed into a four bedroom home.

“The property was purchased by a Sydney buyer, which confirms a trend that we have been seeing of 73 per cent of Mittagong buyers coming from out of the area.

“The new owners were attracted to the original features of the home which has unique grandeur, including a beautiful entry hall with fretwork and chandelier, as well as wide original Kauri timber floorboards.”

Image courtesy of DiJONES

Buyers drawn to Southern Highlands character homes and lifestyle

“Sydney buyers are seeing value in the Highlands and are more attuned to purchasing property under auction conditions,” continues Larsen. “As a result we are seeing DiJONES marketed properties that are auctioned on market for an average of 21 days, which compares to data from Corelogic which sees the average number of days on market in Mittagong at 43 days.”

“Properties with acreage are in demand, with four acres in a rural setting at 465 Medway Road, Medway, selling at auction for $725,000 on the weekend. The three-bedroom weatherboard cottage was snapped up due to its easy access to the Hume Highway, and five minute drive to the heart of Berrima and 15 minute drive to Bowral.

Image courtesy of DiJONES

“We expect to see continued demand in the Southern Highlands, as buyers look to move to the area from Sydney or upgrade their current Highlands home,” concluded Larsen.