The property market in Daylesford and Hepburn Springs appears to be facing oversupply, strengthening the position of buyers. As reported in the Wombat Post in December it is hard not to notice the For Sale signs that dot many streets.
A review of properties for sale – as listed on the Realestate.com website provides an insight into the current market. A comparison with the December review was also undertaken.
As of February 15, a total of 209 (houses and land only) are listed in the Daylesford, Hepburn, Hepburn Springs areas and the surrounding districts including Glenlyon but excluding Trenthamcompared with 212 properties in December .
The number of houses offered increased to 150 compared with 142 in December. Although the number of land offerings dropped it is unclear if this resulted from sales or changes to listings.
Daylesford listed 112 properties compared with 103 in December, with 89 houses in February and 78 in December. This included 21 houses new listings with 10 houses either sold or delisted.
Reductions in the advertised “asking” price were common with about a quarter (26.5%) of unsold Daylesford listed houses listed in December having a reduction in the advertised price in February. Discounts varied, – with drops of 5 to 10% being common.
Reductions in asking prices were similar across the broader Dayleysford-Hepburn area with 25.7% of all properties lowering prices.
Summary of Properties for sale Daylesford-Hepburn area
| HOUSES | ||||
| Location | Feb-24 | Dec-23 | Sold # | New listings |
| Daylesford | 89 | 78 | 10 | 21 |
| Hepburn | 25 | 27 | 6 | 4 |
| Glenlyon | 8 | 7 | 0 | 1 |
| Others | 28 | 30 | 6 | 4 |
| Total | 150 | 142 | 22 | 30 |
| # calculated sales or delistings – excluded properties listed and sold within the reporting period | ||||
| LAND | ||||
| Location | Feb-24 | Dec-23 | ||
| Daylesford | 23 | 25 | ||
| Hepburn | 9 | 10 | ||
| Glenlyon | 10 | 12 | ||
| Others | 17 | 23 | ||
| Total | 59 | 70 | ||
