Families looking for space and treechangers leaving behind urban living has led to lifestyle blocks superseding demand for historic CBD homes in some NSW and Victorian cities.
LJ Hooker's head of research and business intelligence Mathew Tiller said as people's life circumstances change, so too do their housing needs as COVID-led work flexibility gives people more options about where they live.
Mr Tiller said similar to what's happening in the Sydney CBD, retirees are downsizing off large blocks and into inner-city properties to be close to amenities, including health services, and avoid the upkeep of larger properties.
"There's also younger families who are looking for open space and either moving out from larger regional centers or CBD city, to take up that kind of lifestyle that they don't have access to in the city," he said.
"They're looking for larger lots for their kids to run around in really."
The Property Shop Mudgee's Andrew Palmer helped sell a 1860s Victorian warehouse at 1 Lewis Street in the heart of the Central West town's CBD for an undisclosed amount somewhere between $2.6 million and $2.7 million, breaking Mudgee's sales price record.
According to Mr Palmer the "unique" property, which was totally rebuilt inside, appealed to downsizers and empty-nesters after a convenient CBD location.
However a short time later Mr Palmer sold a lifestyle property on a 4085 square-metre lot at 16 Robert Hoddle Grove in Mudgee's Bombira for just over $2 million breaking the sales price record for lifestyle blocks in the area.
The previous record for Bombira was last year's sale of 30 Robert Hoddle Grove for $1.95 million.
Mr Palmer said when it comes to prestige properties it's hard to choose between historic CBD houses and the lifestyle blocks offered at Bombira five minutes from Mudgee's CBD.
He said downsizers or retirees are often the buyers of the CBD properties, keen to buy a home that's walking distance to amenities while lifestyle blocks often draw growing families or people coming off big properties who don't want to move into town.
"The Bombira area would be the premier residential area; you get the luxury of bigger blocks from half-an-acre and up."
Apart from 16 Robert Hoddle Grove, three other properties have sold for more than $1.6 million in Bombira in the past 6 months.
Jellis Craig Ballarat agent Rebecca Stepnell said while there are some great lifestyle blocks in the region, it's the inner city lake-side suburb of Lake Wendouree which would be considered Ballarat's most prestigious address.
"There's magnificent restaurants and cafes, supermarkets and all your amenities within walking distance," Mrs Stepnell said.
"Everybody runs or walks there every day, it's a very beautiful place to be."
The price tag reflects its attraction for buyers.
"There have been some-off market sales of more than $4 million," she said. "Wendouree Parade is our most expensive real estate."
According to Mrs Stepnell, when it comes to lifestyle blocks, Invermay and Buninyong on the outskirts of Ballarat attract high-end buyers looking for more space.
"That's where a family can have 10 acres with a tennis court and a swimming pool and you're still only 15 minutes from Ballarat's very best school Clarendon College," she said.
"Once people have raised a family, maybe on acreage, the next place they want to go is to the lake and Wendouree Parade," she said.
According to CoreLogic the median price of a house in Lake Wendouree is $1.1 million with only two properties sold in Wendouree Parade this year both for over $2 million.
Here's some of the best CBD and lifestyle properties for sale in NSW and Victoria at the moment.
251 Henry Lawson Drive, Mudgee, NSW
Price: $1.5 million to $1.6 million.
This 10-hectare lifestyle property is located in the heart of Mudgee's wine country and five kilometres from the town's center.
The property includes a historic four-bedroom family home with an open-plan living, dining and kitchen area, a separate rumpus/games room, shady verandahs and large covered alfresco area with plenty of room for entertaining.
The sale, which is being handled by The Property Shop Mudgee's Bronwyn June Lewis and Andrew Palmer, also includes farm infrastructure and the size of the land may mean it's suitable for a tourism venture.
The floorplan may allow for separate zones for use as B&B accommodation.
146 Carthage Street, Tamworth, NSW
Price: $1.699 million.
Located on a 1,012 square-metre block in the heart of East Tamworth, the five-bedroom house is surrounded by established trees and a cottage garden, covered alfresco area and an inground swimming pool.
The house has high ceilings, timber floorboards, a timber staircase and marble and timber fireplaces with mantels.
There is a large living area, a dining room, two bathrooms downstairs and an ensuite upstairs within a parent's retreat.
This property, for sale through PRD Nationwide Tamworth's Lisa Ashcroft, was previously used as a B & B and is close to schools, Anzac Park, coffee shops and the CBD.
346 Wendouree Parade, Lake Wendouree, Ballarat, VIC
Price: $2.65 million.
This double brick Arts and Crafts home is set amid grand formal gardens and extensive lake views is being sold by Jellis Craig Ballarat agent Rebecca Stepnell.
Architect Herbert Leslie Coburn designed the two-storey home in 1920 to maximise its proximity to Lake Wendouree.
The four-bedroom, two-bedroom property has polished timber floors, ornate ceilings with elaborate leadlight French doors leading to the formal lounge featuring expansive timber-framed picture windows with lake views. The adjacent dining space with ornate marble fireplace and Arts and Crafts timber ceiling beams provides open plan living between the lounge and kitchen
Features of the gardens include formal hedging, spiral conifers, sandstone pavers and a bronze urn-water feature highlighting the lake-view backdrop.
467 Central Reserve Road, Ettamogah, NSW
Price: About $2 million.
Located 10 minutes from Albury/Wodonga in the Ettamogah/Table Top area this property is set on 64 acreas with views to Lake Hume and surrounding hills.
Built in 1989, the house, which is being sold by Brian Unthank Real Estate - Albury's Tom Hanrahan and Bart Hanrahan, has a spacious amount of living areas with three separate wings and there's a combustion heater with room ducting.
The main bedroom has an ensuite and walk-in-wardrobe and sliding doors to the pool area and the formal lounge and dining room areas also have sliding doors overlooking the pool.
The family bedroom wing has three double bedrooms all with built-in-robes, overhead fans and there's also a fifth bedroom or study is at this end of the home and there's also a double lock-up garage, a double carport and a workshop or games room.
23 Beckwith Street, Wagga Wagga
Price: $1.7 million to $1.8 million.
Located in a wide tree-lined street in Wagga's CBD, the front and rear gardens add to the home's Victorian character which is for sale via Fitzpatricks Real Estate's Matt Newley.
There are three bedrooms at the front of the property as well as a formal dining room with a period gas fireplace as well as open fire places, a wine cellar, underfloor-ducted gas heating, split system heating and cooling and ceiling fans throughout.
The main bedroom has a walk-in robe and ensuite and the main living space at the back of the home leads out onto a tiled verandah.
There are lots of places to entertain in the rear garden, with a built-in outdoor barbeque, and there's a large double garage, workshop and a separate self-contained granny flat.
