URGENT UPDATE: Median house prices across the Macedon Ranges have skyrocketed, with several suburbs breaking the $1 million mark in the third quarter of this year. According to the latest figures from the Real Estate Institute of Victoria (REIV), Mount Macedon now boasts a staggering median house price of $1.4 million, reflecting a dramatic increase of 24.4%. Meanwhile, Riddells Creek has also seen substantial price growth, with its median house price soaring to $1.1 million, marking a rise of 10.2%.
The price surge continues in Malmsbury, where median house prices have climbed to $790,000, an increase of 8.2%. Across other suburbs in the Ranges, average prices have risen by 1%, notably in Gisborne ($1 million), Lancefield ($728,000), and Romsey ($811,000). However, not all areas are experiencing growth; Macedon reported an 11% drop in prices, now at $975,000, while Kyneton and Woodend saw slight declines to $820,000 and $935,000, respectively.
These developments come as the Macedon Ranges Council actively seeks to address escalating housing affordability challenges. The council is currently reviewing its Affordable Housing Policy to create a long-term strategy aimed at assisting very low, low, and moderate-income households. The goal is to ensure housing costs do not exceed 30% of household income.
Officials emphasize that community feedback is crucial in shaping this new policy. The council is inviting residents to share their experiences, ideas, and views up until Wednesday, November 5. This feedback will inform the council’s advocacy for funding and policy reforms, facilitate partnerships with housing providers, and plan for more affordable housing developments.
Residents are encouraged to participate in this vital discussion, which could lead to significant improvements in housing accessibility across the shire. For more details and to provide feedback, visit https://yoursay.mrsc.vic.gov.au/affordable-housing.
As the housing market continues to shift dramatically, all eyes will be on the Macedon Ranges for further updates on prices and the effectiveness of the council’s proposed strategies. Stay tuned for the latest developments.
