The value of residential allotments in Tarago and Lake Bathurst villages have experienced a "very strong increase" in 2019-20.
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The recent land valuations report by the NSW Valuer General states that these areas registered a 20 per cent increase compared to the previous year for residential land.
It further states that land valuations in these villages have increased as compared to other areas in Goulburn Mulwaree which remained steady for the 2020 valuation year.
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Both Lake Bathurst and Tarago are one of the 340 village zoned properties that are a part of the Goulburn Mulwaree LGA. While Tarago is located approximately 42 kilometers from Goulburn, Lake Bathurst is at a distance of around 50 kilometers.
Tarago real estate agent Judy Alcock said that they have been seeing a huge demand for residential properties from Canberra market.
"Tarago is becoming a preferred choice for people from nearby places like Canberra etc due to housing and rental affordability," she said.
"Due to Covid, people have realised that they can work from home from any location. Much of the workforce travels to Canberra and Queanbeyan and the distance to travel from here is not difficult and is more affordable."
Meanwhile, Doug Merriman, selling principal at Ray White Bungendore reflected on the increase in demand in the area over the years.
"Over the last 10 years, the demand for residential properties in the Tarago and Lake Bathurst villages have been fairly flat. However, at this moment, if we market a property in this area, we are getting a good response," he said.
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