Positive mood around rural property market

Favourable conditions have created a positive outlook for rural property market

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Property agents across NSW are hopeful of a strong market in 2021 after a solid finish to last year.

Property agents across NSW are hopeful of a strong market in 2021 after a solid finish to last year.

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Agents across the state are optimistic for a strong year in rural property market.

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A strong finish to last year has produced a sense of optimism among agents for a successful rural property market in 2021.

Drought and bushfires were mainly responsible for a very slow first two quarters, solid rainfall in most areas grew crops and pastures, and buyer interest in the second half of the year.

One of the principals at McGrath Real Estate Upper Hunter, Michael Burke, was very positive about how 2021 may shape up.

"We will see a steady stream of quality properties offered in the Upper Hunter if the season continues to be favourable," he said.

"We will continue to see people from Sydney and outside the area showing strong interest in properties in the area.

"The close proximity to Sydney helps to generate that interest.

"Also, rates are comparably affordable to areas within the same proximity to Sydney at around $485 to $525 per hectare."

Bill Marshall, rural specialist at Ray White Emms Mooney, said the Central West was likewise looking at a strong 2021.

"If things continue how they are going, we will have a pretty healthy market for 2021," Mr Marshall said.

"There has been a lot of publicity around Sydney buyers coming out to the country because of COVID-19, but that has really just been a continuation for us.

"Increased interest has come from local buyers on the back of good seasonal conditions, strong commodity prices and low interest rates."

Another area featuring strong local interest is the Moree region with Sandy Bailey, rural agent at Moree Real Estate, optimistic of a strong year ahead.

"We are poised for a big one. If all the stars align with cheap interest rates and plenty of productivity, I think everyone will be keen to put the drought behind them pretty quickly and get back in front," he said.

"With prices being very solid it could be hard for someone to come in from outside the area to start an operation so I expect a lot interest from locals looking to expand their scale."

Managing partner at Nutrien Harcourts Bourke, Greg Seiler, said things are also looking positive in the north-west of the state.

"Things are looking pretty good despite there not actually being that many places on the market," he said.

"There is very strong buyer enquiry from the east with people looking to expand their operations and buy lower cost breeding areas and anyone who has country to sell will find a fair bit of buyer support."

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