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Saturday, September 19, 2020

Yass homestead fetches $1.8 million at auction

A more than 100-year-old Yass homestead sold under the hammer for $1.8 million on Sunday (21 June), with the sale reportedly breaking the record for the area by $200,000.

The historic 16 Walgrove Road generated a lot of interest, according to Ray White Rural Canberra/Yass stock and station agent, George Southwell, who said it’s indicative of how “active the market really is at the moment”.

“The under-bidder was actually bidding from Tokyo and never visited the property, wanting to get into the market in Australia,” he said.  

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The property was constructed in 1905, and Southwell said it has “all the country charm of a magnificent Southern Highlands retreat, ideal for a family escaping the city, without the exorbitant price tag of Bowral or Mittagong”.

The home sits on just shy of 23.5 acres (9.5 Ha) , and boasts five bedrooms, four bathrooms and a separate granny flat.

The vendors said they are “really happy” with the sale result: “We were really happy with the number of people that went through the property and were here today,” they said on Sunday.

“We had to make a calculated risk assessment about going to market now and we’re so glad that we decided to go through with it.”

Southwell said despite expectations this local market would see a downturn due to COVID-19, he’s noticed a big drive in people “moving out to the country” since the virus hit.

“A lot of agents have moved away from their traditional sales methods – but we’re sticking to what has been working for us for all these years – and we’ve sold $4 million worth of rural lifestyle property this week,” he said.

“Now is the time to sell. This sale makes it well and truly evident that we’re dealing with a market that will operate at all levels.”

Find more property news and listings at Canberra Weekly Real Estate.

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