Rural Property Market Remains Strong For 3rd Quarter 2018

New South Wales Tablelands and Central West
Demand for rural properties remains reasonably strong at present. On the supply side, the number of listings and properties being offered to the market appears to have eased throughout 2018 to this point, due in part to the extended dry seasonal conditions. As a result, sales volumes have eased. This decreased supply and limited stock available has been generally insufficient to meet the current buyer enquiry and demand and may buoy value levels somewhat, despite the presently poor seasonal conditions.

Though fewer, the sales that have occurred over the past few months indicate the same strong growth in values that occurred during the busier 2017 and are showing that the rural market is maintaining the upward trend demonstrated in 2017. Listings of rural properties have now increased significantly over October and the undersupply seen so far in 2018 has now corrected. The current stock of properties contains a reasonably broad mix of rural assets that would appeal to a broad cache of rural buyer types. The most active buyer group appears to still be local and neighbouring-district farmers seeking nearby land to expand their existing enterprises.

Source: Herron Todd White