Locals, investors drive Bathurst $1 million home market: Herron Todd White

Rural property above $1 million is in high demand in Bathurst at the moment driven by locals, retirees and capital city professionals, according to Herron Todd White.

Herron Todd White's October Month in Review said owning a home in the million dollar price bracket is an aspirational goal for many locals.

"It is unlikely that the drivers of this market segment will filter through to the broader market where the median house price is about $300,000 to $350,000," it said.

"An example of a recent sale is 66 Henry Lane, Emu Swamp which has 28 hectares and a 4-bedroom dwelling. Don’t let the name fool you, there is no swamp and not a lot of emus. The property was previously purchased for $820,000 in 2011.

"The dwelling was extended and renovated in 2013 at a cost of $250,000. The property included many handy extras such as undercover cattle yards, a cattle crush, machinery shed, workshop and a wine cellar. In June this year, it sold for $1.25 million after only 86 days on the market."