15 acres in the bush, hidden from view, only 600m from the sealed road and backing onto Kingower State Forest - an ideal spot to escape to the country and have fun. This is one of 3 separate blocks for sale (see the individual listings), ranging in size from 6, 10 and 15 acres, all next to each other.
The land has a dam, is relatively level and cleared, with some mature gums and the Paper Gully seasonal creek passing through it, with Crown land on the northern boundary.
The land is in the Farming Zone, so not suitable for building a residence, but ideal for casual weekend use.
Rheola started as a gold mining town in the 1860s but is now a quiet backwater, 10 minutes to Inglewood for the basics, 45 minutes from Bendigo, and 2.5 hours to Melbourne. Access is via Pipeclay Road which is an unmade track through the bush.
The size of Rheola is approximately 34.8 square kilometres. It has 2 parks covering nearly 3.5% of total area. The population of Rheola in 2011 was 317 people. By 2016 the population was 35 showing a population decline of 89.0% in the area during that time. The predominant age group in Rheola is 0-9 years. Households in Rheola are primarily childless couples and are likely to be repaying $600 - $799 per month on mortgage repayments. In general, people in Rheola work in a managers occupation. In 2011, 80.5% of the homes in Rheola were owner-occupied compared with 108.7% in 2016..
Rheola has 64 properties. Over the last 5 years, Houses in Rheola have seen a 12.59% increase in median value. As at 31 August 2024:
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