Gisborne, Victoria: What it costs to buy into The Block's tree-change dream
It used to be a sleepy country town on the rural outskirts of Melbourne that few had heard of, let alone knew where it was.
But now Gisborne’s rolling hills and green pastures are being beamed into households across Australia thanks to The Block.
“Ten years ago people were like, ‘Where’s Gisborne?’, but now people know where we are,” said Ken Grech, director at Raine and Horne Gisborne.
A 50-kilometre drive west of Melbourne, Gisborne is a popular new address for pandemic tree-changers and foodie-loving hipsters.
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It’s one of four main towns in the Macedon Ranges – an area well known for its fresh produce, wineries and restaurants.
But if there’s one thing every Gisborne local will tell you they love about the town, it’s the country air.
“People want to move because they want the fresh air and they know it’s only 45 minutes from Melbourne,” said Grech.
“They just want the change, the peace and quiet, and to escape the congestion of Melbourne.”
At the 2016 census, Gisborne was home to a population of 8999. That number is sure to have risen with new housing developments springing up across the town and lockdown-weary Melburnians seeking refuge during the past three years.
Yet Kirrily Evans from TCC Real Estate says The Block may revive the tree-change trend.
“The tree-changers have thinned out a little because we’ve found the majority of pandemic tree-changers have already relocated,” she said.
“But The Block is going to showcase the Macedon Ranges and this will create curiosity and bring traffic to the community. We may even find a new burst of tree-changers looking to move to our wonderful area.”
The median house price in Gisborne is $1.05 million, according to the June quarter Domain House Price Report. This represents two massive growth jumps – 19.3 per cent in the past 12 months and 60.9 per cent in the past five years.
The peak of the recent price rise came soon after Melbourne’s lockdowns finished in 2021. Gisborne’s greenery, large blocks and country community vibe proved irresistible for Melburnians and even interstaters.
Such was the demand, agents reported buyers purchasing sight unseen. All it took to tick their boxes was a thorough virtual inspection.
Evans remembers dealing with multiple buyers all vying for one property, but said the recent interest rate rises and cold winter weather have now tempered the market.
“Last year there was huge demand, there was competition and for each property we were dealing with two to four, sometimes more, buyers, with a really quick turnover,” she said.
“Currently now we’re only working with one or two buyers and the days on market have increased.”
Gisborne’s median price may only be $24,369 below Melbourne’s median house price, however buyers get more bang for their buck with Gisborne blocks as big as 1000 square metres being offered below $1 million.
Combined with the large land lots there’s the attraction of the community, with Gisborne offering a range of schools, including the Alice Miller School founded by popular author John Marsden, and thriving sporting clubs.
“The community is fabulous,” said Josie Borg of RT Edgar Gisborne.
“The younger generations with their families have such close ties with each other, which is really lovely to see.”
There’s also no shortage of community events including Gisborne’s Olde Time Market on the first Sunday of every month.
Borg, who has lived in the Macedon Ranges for 45 years, hopes The Block will shine a light on Gisborne, particularly for people who may not be familiar with the area.
“I think it will be a discovery for some people and if indeed people discover it, come up and have a look at the place, then yes, possibly it will have an impact on the market.”
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