Renovated rural paradise sells with Moorabool River frontage
Geelong region buyers secured the five-bedroom house on the property overlooking the Moorabool River in a deal finalised last week.
Charles Stewart Geelong agent Andrew Rice, who acted as conjunctional agent with Elders Geelong's Peter Lindeman, said the property at 60 Cross St, dubbed Moorabool, was first auctioned last October when there was an air of uncertainty surrounding the rural market.
But with conditions finally improving with the lifting of interest rates, a result was locked in.
'We got a good result there,' Mr Rice said after confirming the property sold within the $2.95m to $3.2m guide.
'They were very much into horses, that was the appeal.'
There were a lot of pluses at the property, he said.
'I mean, the fact you have mains water, the fact you've got a river frontage, which is a beautiful stretch of the river, and you're 15 minutes out of town.
'There's a lot of pluses with this place – two acres of gardens, an assured water supply, a lovely home.'
The property is privately accessed via two no-through roads and has 11 paddocks with electric fencing and a laneway system; a 24m round yard with an all-weather surface; a 30m by 8m shed complex incorporating two stables, a horse wash, and a tack room.
There is also an 18m by 3m skillion attached with a high roofline; a three-car garage with loft and workshop area and an original dairy, mower shed and stockyard.
At the heart of it all is the beautiful character home with a striking foyer entrance and stately formal dining and sitting room with French doors to access the expansive return veranda.
The adjoining open-plan kitchen and living area features hardwood floors and a central open fireplace with a brick chimney that adds to the charm.
Mr Rice said conditions were improving for the rural market, especially after the interest rate cut in February, with another widely tipped in May.
While many buyers in the rural market weren't reliant on finance to purchase (they often have already sold other properties prior to purchasing), the sector's prospects did rely on a healthy traditional housing market, Mr Rice said.
'I'm not saying it's off the chart, but we've had a lot of headwinds when you think about it,' he said.
'I mean interest rates jumping, jumping and jumping. Not they're sort of on a downward trajectory.'
Mr Rice said water, or the lack of rainfall, was still a topic of conversation for buyers.
'Wherever you go in Victoria, it's very dry,' he said.
'And we always anticipate an autumn break about Anzac Day and I think they are predicting a bit of rain over the weekend.'
The number of rural properties close to Geelong with access to town water gave more confidence to buyers, he said.
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