Kyneton Research Factsheet 2nd Half 2017
The Kyneton property market has performed exceptionally well due to the continuing implementation of the Kyneton Structure Plan. The current median house price is at $477,500 and $263,000 for vacant land, representing an annual price change of 4.4% and 34.9% respectively. Kyneton’s median house price sits below the Shire of Macedon Ranges’ median $550,000, which indicates Kyneton’s affordability and desirability for owner-occupiers and investors as this affordable entry point does not compromise positive capital growth. Solid returns of 3.5% (house) and 7.6% (unit) and a low vacancy rate of 0.8%, also reflect the rental strength of this area.
Kyneton future developments goes from strength to strength with approx. $18.4M worth of new development projects earmarked to start between 2016-2017. Incoming residential developments will add 68 townhomes, 37 lots and 7 units to increase the stock required to meet market demand that will likely be driven by the economic growth through the Kyneton Structure Plan in the coming years.