The Rare Regional Properties Capturing Buyers' Attention

Income-producing regional properties, from truffle farms to small vineyards and olive groves, are opening buyers’ minds to possibilities beyond the city.

It is easy for buyers to imagine themselves watching the sun set from the verandah, a border collie napping at the feet, following a harvest.

However, properties like this are so rare, sometimes buyers don’t know they are in the market until the opportunity arises. And, when the numbers stack up beyond capital growth alone, it's a compelling package.

One such exceptional listing is Winter Creek Farm in tightly-held Trentham, offered through RT Edgar Macedon Ranges. The truffière spans 387-evergreen oak trees, on approximately 7.775 hectares, in the lush Daylesford-Macedon Ranges food bowl, and currently has a 10 per cent return.

“These properties are opening buyers up to a different way of thinking about regional living,” RT Edgar Macedon Ranges director Jason York says. “There’s a growing focus on properties that offer more than just a home, with buyers looking for a balance of lifestyle, flexibility and, in some cases, the ability to generate an income or pursue a passion.”

Winter Creek Farm blends a tranquil lifestyle with well-established enterprise. The farm is entering its ninth year of production, and industry benchmarks indicate a substantial production uplift over the coming years.

Beyond the existing operation, there is scope for a future owner to expand the property’s commercial potential, from farm gate sales and restaurant supply to curated truffle hunts and small-scale events.

Planning permits are in place for a commercial space with a liquor license and an architectural residence.

Last year, 28 per cent of enquiries for regional Victorian properties were from Melbourne buyers, compared to 4 per cent of regional buyers who searched for a city home, Domain data shows.

Daylesford was regional Australia’s most-searched postcode on Domain, crowning a top-five dominated by NSW.

However, while demand has not waned, expectations have evolved.

RT Edgar Macedon Ranges director Beverley Higgs says today’s buyers are discerning and quality-focused. “Their decision making is much more considered, so there’s less urgency,” Higgs says. “Once, they might be happy with 70 per cent of their boxes being ticked, now they want 100 per cent.”

York says buyers are weighing up properties more strategically than they did during the rush of COVID era. “They need to feel that value equals a transaction,” he says.

That selective approach is the natural byproduct of regional markets. Unlike city suburbs that have homes of distinctive style and character, no two properties in country areas are alike and buyers sometimes need time to assess each.

“Once you get out of town and onto acreage, they’re all very different in the way the houses are built and designed, and their facilities and infrastructure,” York says.

Meanwhile, ready-made regional properties have strong appeal among buyers who are reluctant to take on a renovation amid construction challenges. “Turnkey is the key,” York says. “Buyers want to walk in and see everything is done, down to the manicured hedges.”

Higgs adds that presentation and comfort are central to decision-making. “Completed, homely, nothing to do, visually appealing,” she says, describing the clear checklist that buyers now arrive with.

Regional living is no longer seen as a compromise, and has emerged as a first choice for many Victorians. Remote work has enabled a work-life balance that previously seemed unattainable, complemented by strong communities, a thriving food, wine and coffee scene and a packed events calendar.

“When they do move here, there’s no going back,” Higgs says.