NICK and Ruby Gleeson gave up lives in Sydney and risked it all for a life in the country.
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And they are not the only ones.
According to independent property valuers Herron Todd White (HTW), Orange has a rising property market because of its reputation as a food, wine and tourism hub.
Property valuer Glenn Pearson said anecdotal evidence and market research based on housing sale figures say Orange has been marketed well and was reaping the results.
“Overall the area is making a name for itself as a food bowl,” Mr Pearson said.
While not previously associated with “cultural sophistication” the reputation of Orange is changing with the increase in entertainment venues says Mr Pearson.
Mr and Mrs Gleeson bought cafe Factory Espresso three weeks ago and agreed with Mr Pearson’s assessment.
With an employment history in broadcast television, making a jump to hospitality in a city of 40,000 people was scary, but Mr Gleeson says he was buoyed by positive reviews of Orange from his friends.
The couple said Orange is well-known to Sydneysiders.
“When we told people what we were doing, 90 per cent of them said ‘Orange, wow that’s a really great town’,” Mr Gleeson said.
“The other 10 per cent said ‘are you serious?’
Orange’s reputation as “trendy” is making returns in the property sector according to Century 21 licensee Andrew Vogler.
He agreed with HTW’s statement that the market is not as volatile as metropolitan markets tend to be, which encourages investment in the area.
“I think the estimate growth of 1 to 5 per cent is pretty reasonable,” Mr Vogler said.
Mr Vogler said marketing strategies by Orange City Council and Brand Orange targeted at Sydney-siders were paying off and he often spoke with people at open houses who were in town gauging the market but also going to the regional wineries and restaurants.
“There’s a lot of people trying to find balance between work life and home life and in Orange you can achieve that and it’s harder to do in Sydney,” he said.
Mr Vogler said a significant proportion of people looking at the rental market were from Sydney who moved to Orange for work.
“We usually see all the doom and gloom stories about job losses, but someone is hiring,” he said.