Rural residential properties close to Casino and Kyogle command the upper price levels: HTW residential

Residential properties that fit the flash and the furious mould within the Kyogle and Casino regions are rather slim in number, according to the latest Herron Todd White (HTW) report. 

The report suggests for these rural towns, any detached house within the residential zoned area achieving a sales figure above $500,000 certainly invokes a response in the locals.

A case in point is the sale recorded at 4 Rosewood Place, Kyogle (pictured below) for $518,000 in July 2019.

Located in a 1990s-era subdivision, the two level, four-bedroom, two-bathroom house with three-car accommodation stands out from the rest having been fully renovated inside and out.

"Complete with tiered seating in the main lounge with an LCD projector and motorized screen, you have a veritable cinema under the roof!" the valuation firm said. 

In the popular satellite suburb of Gays Hill, near Casino, the most expensive house sale for 2019 was 6 Devon Court (pictured below) for $549,000 in July 2019.

A more original 1990s, but extremely well maintained and spacious four-bedroom, two-bathroom home with two-car accommodation is a testament to the first owner’s care and attention.

"This level of price is generally found to be more akin with more modern houses....so this one was an eye opener," the valuation firm commented. 

Rural residential properties usually command the upper price levels within close proximity to Casino and Kyogle, as they benefit from rural views and having the space and opportunity to go nuts on landscaping and ancillary improvements, the report noted.

A unique property located on a well elevated 6.44 hectare site is 38 Chisholm Court, Collins Creek which sold for $700,000 in May 2019.

Contemporary in its design with only three bedrooms, two bathrooms and a detached two-car garage, the house site affords panoramic rural and mountain views to the north and east and is only ten kilometres from Kyogle.

"Far enough away but not too far....as they say. No problems with water supply thanks to a recently installed bore," the valuation firm added.

"In a recently developed rural residential estate in Naughtons Gap, approximately ten kilometres north-east of Casino CBD, we have 35 Ironbark Place, a four bedroom, two bathroom, modern home with two-car built-in garage and a lot of bells and whistles such as ducted air conditioning, solar power system, 12 x 9 metre machinery shed, inground pool and 130,000 litres of water storage, all on a 2.424 hectare site for $755,000 in June 2019.

"Every whim and wish catered for here!" the valuation firm said. 

"Lastly, we have the larger, rural lifestyle properties that crack the $1 million plus ceiling and can leave a tear in the eye (or wallet). Consider 3309 Bruxner Highway, Casino for $1.095 million in June 2019.

"A well laid out 40.33 hectare property with a 1990s, five-bedroom, two- bathroom, brick home with pleasant features such as a wide alfresco area, inground pool, three-bay garage and attached carport, fully equipped bore, dam...a machinery or store shed large enough to fit a Donald Trump Winnebago election troupe travel group – yeah... that’s big.

"Together with clean flat to easy undulating topography and a short ten minute drive from Casino, you can have the luxury of residential and rural living in one package," the valuation firm said. 

Similarly, a 41 hectare property at 1233 Collins Creek Road, Collins Creek is only 14 kilometres north of Kyogle CBD and includes a three- bedroom, two-bathroom homestead set amongst whispering gums with panoramic north-easterly rural views and views of Border Ranges National Park.

"The clean and improved pastures keep the cattle happy as well whilst you lounge on the open verandah and take in the cool breezes and eye catching scenery. At $1.01 million in June 2019, you would think this is a bargain!" the valuation firm said. 

"With the recent cut in interest rates, one would be forgiven for casting an eye on the more pricey real estate." 

A brief glance at the residential market for Casino and Kyogle shows only a handful of properties listed in the $500,000 plus price bracket and they appear to be sticking around.

However, this is not the case for rental accommodation in Casino and Kyogle with the bulk of the rental stock being listed and quickly occupied.

At a rental range of $250 per week to $500 per week, there is a sensing of tightening in supply throughout.

For larger rural lifestyle properties near Casino and Kyogle, the $1 million-plus price bracket listing is becoming more apparent for well-presented rural lifestyle properties with a plethora of features such as creek or river frontage, elevated rural or mountain views and good quality and range of improvements.

"In summary, the Casino and Kyogle region has its share of eye candy and there appears to be a market demand to savour it."