Yass homestead fetches $1.8 million at auction

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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.  

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.”

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