Real estate

Full retreat: A closer look at the most enviable estates in Bowral

The ultra-prime estates of the Southern Highlands, 90 minutes south-west of Sydney, are among the most desirable, and closely held, country properties in Australia. Two of the region’s top agents, James Hall of Christie’s International Real Estate and Samuel Lindsay of Drew Lindsay Sotheby’s International Realty, talk us through the market – and its most enviable addresses.

Boulevard: Can you give us a feel for the types of ultra-prime properties buyers are looking at in the Southern Highlands in terms of estate size, condition, amenities? What are the most sought after streets and addresses?

James Hall: Generally, we are finding two types of buyer for ultra-prime properties in the Southern High- lands. Those looking for 100+ acres with the space to run cattle or sheep, seeking primary producing estates for tax benefits, or those look- ing for five to 30 acres for kids or grandchildren to go horse riding or ride motorbikes, etc – which are more manageable properties for a country retreat.

The size of the home is important as the properties are normally an escape for family members to come together. Tennis courts, swimming pools and machinery sheds are high on the lists, as well. The areas that are most sought-after include Kangaloon, as well as most streets with views over Wingecarribee Reservoir and the rolling hills. Range Road Mittagong, Oldbury Road Sutton Forest and smaller blocks in Burradoo are also highly coveted

Blvd: How much availability is there? Is it closely held?

Hall: The ultra-prime properties are tightly held and generally trade quickly if they come to market. We have seen an increased number of listings this year compared to last. Certainly, more choices although limited with quality – and properties that tick all the boxes from a buyer’s perspective.

Samuel Lindsay: Generally, yes. It is tightly held.

Blvd: How is the market performing and what are your expectations for the next 12 months?

Hall: It’s patchy although correctly priced properties are selling. We are seeing good number of enquiries on our listings and expect it to continue over the next 12 months.

Lindsay: The market has been patchy and it’s generally a good time to buy. We are experiencing more enquiries and sales and I expect the market to lift over the next 12 months, particularly for the most sought-after properties: those in top condition, with views, arable land and proximity to Bowral. Range Road is a prime address, and Glenquarry and Kangaloon are usually high on the wish list, as well.

Blvd: What’s the profile of typical buyers in the ultra-prime space? And the use-case of the property – is it a primary or secondary residence? Is investment or growth potential a key driver?

Hall: The typical buyers are families based in the Eastern Suburbs and Lower North Shore looking for a secondary residence. A smaller number of our clients buy for landholding.

Lindsay: Everyone’s different. Some of them are local while others are national. A smaller percentage, on the other hand, come from the international pool. These are usually those weekenders that turn into primary residences.