Hi, Happy Black Friday, my name is Greg Vincent and welcome to The Acreage Market Wrap where we discuss what’s happening throughout the Hawkesbury, Hills and North West Sydney acreage market.

We’ve just come out of a much busier Spring period than was experienced last year, where amongst The Hawkesbury area 70 acreage properties were Sold. This is almost double the amount of sales that happened during Spring 2018 within The Hawkesbury and the other areas have experienced an increase in sales as well.

There’s still a large volume of stock currently available with an overall total of 432 acreages for sale across all regions with 254 for sale in The Hawkesbury, 124 in The Hills, and around the North West area of Penrith there are 29 and 25 acreages for sale in the Blacktown development area.

Whilst there’s currently still quite a selection of acreage available, we should see sales of acreage properties increase even further in the early part of 2020 due to a number of factors.

Firstly, confidence has come back into the market after the result of both the State & Federal elections plus APRA made changes to their Assessment Rate which increased borrowing capacities, the Reserve Bank reduced interest rates several times over the past 6 months leaving the cash rate at historically low levels and the banks have freed up lending.

When you add in all of these factors, especially the low cost of funding along with the significant price corrections which have occurred throughout the acreage sector over these past few years, right now acreage properties are significantly more affordable to purchase today than they were a couple of years ago, but that won't be the case for long.

You see, the housing property market has experienced significant price growth over the past few months plus the media have stopped all of the doom & gloom reporting and are now back talking about the booming Sydney market again.

Property Valuers, Herron Todd White recently released their December report which shows on the Property Clock that Sydney's housing market has now gone through the bottom of the market and is now in the Start of Recovery phase which sits at around 7 to 8 o'clock on the Property Clock.

We have experienced a dramatic increase in buyer enquiry for acreage properties in recent weeks and there's been some very active competition between buyers during a number of our most recent sales.

Also, I have just had another property go under contract without even making it to the market, plus, I've recently trialled an exclusive, Social Media and Acreage Database only pre-launch strategy for a new acreage listing at Annangrove.

We've had several enquiries from buyers already, along with a number of inspections and contracts issued. It looks like this property may also get Sold without making it onto the major real estate websites.

It's incredible to see how effective a highly-targeted Social Media strategy can attract so many extra buyers in today's market.

If you'd like to know more about how this brand new Off-Market selling strategy works, please feel free to contact me.

Along with the excellent growth anticipated for 2020 in the acreage sector, I have some exciting news in store for acreage owners including a brand new suite of property marketing strategies that I will be rolling out in the New Year.

In the meantime, if you're considering selling your acreage property and would like to know how much your property is worth and how to maximise its value please don't hesitate to get in contact with me.

Thanks for tuning into the Acreage Market Wrap, I look forward to catching up with you again soon.

Regards

Greg Vincent