Hi, my name is Greg Vincent and welcome to this week’s Acreage Market Wrap where I share an insight into How’s The Acreage Market?

This week, after 6 months it was great to see that every bushfire in NSW has now been declared “contained”, but it wasn’t without Mother Nature sending down so much rain that we ended up with extensive flooding throughout the district along with an earth tremor in the Hunter which was felt by residents around the Oakville & Maraylya area.

With several bridges closed throughout the district during the floods, many people either remained on the other side of the river or did the long drive out through Bell and around the mountains to get to work. Whilst it was very frustrating and devastating for many of those located in the lower lying areas, I really feel for everyone impacted as there are a lot of locals who are currently going through the arduous task of cleaning up the huge mess made by the flood.

Upon reflection, we were extremely fortunate that the Warragamba Dam levels were so low that no water had to be let out of the dam like they’ve had to do in previous floods. Earlier this week I wrote about how the ‘Low Warragamba Dam Levels Saved Us From A More Major Flood Disaster’ and one thing’s for sure, there will be a lot more said about the nature of this latest flood and the soon to be released Environmental Impact Statement regarding the State Governments proposal to raise Warragamba Dam wall will provide a great opportunity for everyone living amongst the communities located downstream of the dam to have their say and send a strong message to the government about protecting lives and livelihoods. If you’d like more information, here’s the article I shared.

Also, during this week’s floods I shared some helpful tips about what you should do during a flood and how to ‘Keep Your Animals Safe During An Emergency In The Hawkesbury-Nepean Region’.

So, what’s been happening in the acreage market?

As expected more acreage properties are starting get Sold with 16 sales this week plus another 13 acreages currently Under Contract. With the positivity back in the market, more stock is coming onto the market, with another 13 new acreage listings hitting the market this week. The overall number of acreage properties For Sale across the entire region, reduced by 7 this week from the 395 total of last week down to 388 For Sale this week.
This overall total includes 218 acreage properties For Sale throughout all of The Hawkesbury, 123 in The Hills and another 47 For Sale within Sydney’s North-West acreage areas of Penrith and Blacktown.

Out in the field, there was an increase in enquiries from buyers this week plus positive activity at today’s Open Homes.

This week I launched a new acreage property for auction at 6 O’Dell Street, Vineyard which is an excellent lifestyle home on 5 acres located in the Vineyard Stage One Release Area of the North West Growth Centre.

If you’re looking for an extremely rare acreage investment/land bank opportunity with nearly $55,000 per year rental income it’s definitely worth checking out. For those interested here’s a link to the property & don’t hesitate to contact me if you’d like to more information.

Also, after negotiating with several interested parties at the first open that we home held at the 5 creekfront acres property at 197 Willeroo Drive, Windsor Downs, this week after an extended cooling-off period the property was Sold for $1.65 million.

During the sales process there was a huge amount of flood water on the property which could’ve easily derailed the sale. Instead I worked very closely with the purchaser and held the sale together for my client by keeping the buyer fully informed about the extent of the flooding with photos and video updates as well as regularly updating them about the tides and flood level peaks.

From my experience I’ve found that buyers really just want to be kept informed with the facts and address problems head on rather than leaving purchasers in the dark or trying to ignore what’s happening. I was totally transparent and upfront (which is the way that I prefer to do business) and as such the sale went ahead despite the fact that flood waters were still flowing across the property.

Investors Are Back

In other news, something else that I've noticed this past few weeks is that there has been a definite increase in the number of investors who are now looking at investing in the property market.

Many are looking to capitalise on the low interest rates, good returns and increase their asset value during the predicted property price growth in 2020.

I also posted an article yesterday with some information for investors, here’s a link to that article too.

Now, lastly, over the next few weeks I’ll be finalising the Autumn Edition of The Acreage Report 2020 which will feature “A Look Into The Future Of What’s Ahead For Acreage This Decade”.

So, if you haven't already grabbed yourself a copy of The Acreage Report 2020 (Summer edition), make sure get yours now at www.TheAcreageReport.com.au and you’ll be amongst the first to receive the new Autumn edition complete with the latest acreage updates and insights into what's happening within the Hawkesbury, Hills & Sydney’s North West acreage market.

So, that’s it for this week’s Acreage Market Wrap.

If you’ve got any questions about anything I’ve shared this week or if you’d like to discuss any of your acreage plans with me, don’t hesitate to get in touch.

Thanks for tuning in and bye for now.

Regards

Greg Vincent