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, Deborah Cullen, from Knight Frank Australia, explained how “COVID-19 has changed many aspects of our lives, but one, perhaps less expected impact, has been a significant rise in demand for prestige rural and coastal properties.”

Plus, Matthew Fleming, CEO of Contemporary Hotels Group said that, “they have seen an explosion of demand for holiday homes since restrictions have eased.

As demand for prestige rural properties rises, values are strengthening. But amid a global pandemic, buyers are realising that a rural retreat is not just a sound investment, and a place to unwind. It can also be a valuable safe haven that protects the wellbeing of the whole family in uncertain times.”

In addition, this week property expert, John McGrath shared a number of trends that he sees for the future as we emerge from the Covid-19 pandemic.

1. More multi-generational households

Job losses and financial stress will bring families together. We’re already seeing many young renters moving back home with mum and dad.

2. Empty nesters to downsize earlier

Some empty nesters will downsize earlier because their businesses won’t survive. With their superannuation also diluted, cashing in the family home might be the most appealing option.

3. Working from home in lifestyle locations

A large contingent of permanently home-based workers will likely head to the regions for a better lifestyle within commuting distance of the city.

4. Technology makes it easier and more efficient

Covid-19 forced every agent to adopt high-tech work tools overnight.

Online auctions, greater use of virtual tours, meetings via zoom and streamed inspections are now the way of the future. This will make it easier than ever before for people to research, buy and sell property.

5. More overseas buyers

Our agents sold half a dozen or so properties to people overseas who couldn’t inspect them during the lock down, which shows just how good the buyer experience has become online.

6. Work from home will influence design

Designated home offices, home gyms and multi-purpose spaces will be the new must-haves. Home owners will be more mindful of creating safe, adaptable environments that are pleasant to work in. Those who depart cities for affordable regional areas will want big houses with lots of extra rooms.

If you’d like to see more of John McGrath’s predictions for the future, here’s a link to his insights.

What’s Ahead For Acreage?

Something else to consider that I sense will have a significant impact on the property market over the next few weeks is that we’re now only 10 days away from the roll out of the next phase of the Federal Government’s First Home Loan Deposit Scheme which will be available on the 1st of July to another 10,000 first home buyers.

This should have a similar impact on the market as it did back in January and we will start to see a lot more activity at the bottom end of the housing market as thousands of first home buyers enter the property market, and the good news is that we should see a ripple effect which will in turn increase buyer activity in the acreage sector.

So if you’re thinking of selling your acreage property, the remaining winter months of July and August could be a great time to sell, especially if you want to get sold before the potential September cliff-edge and the likelihood of more economic uncertainty that many have been predicting may occur as the Government initiatives start to cease.

How’s The Acreage Market?

Currently there are 419 acreage properties For Sale across the region (13 less than last week), which includes 241 acreage properties For Sale throughout The Hawkesbury, 125 throughout The Hills district and another 53 acreages For Sale within Sydney’s North-West acreage areas of Penrith and Blacktown.
There were only 7 new acreage listings come onto the market this week, and there were 16 acreage properties Sold this week. Plus another positive sign that the market is improving, there are currently 21 acreage properties ‘Under Contract’ across the region.

Out in the field, there were a large number of buyers out looking at acreages at today’s Open Homes and enquiry numbers increased dramatically this week.

This week I launched two properties, the large 5 bedroom homestead at 51-55 Cherrybrook Chase, Londonderry is set amongst a three acre property in an excellent ‘flood-free’ location and the cars were lined up down the street for this property at today’s Open Home.

The 2nd property at 11 Pitt Street, Windsor also had a lot of interest because it’s located amongst the exclusive peninsula area of Windsor with a spectacular acreage outlook, within a short walk of the cafes, restaurants and shops in the town centre. If you want to downsize from acres and move closer to town, with the feeling of acreage but without the maintenance then this one is the perfect place.

Also, yesterday I listed two more ‘Off-Market Acres’ properties.

One is an excellent land bank opportunity on prime, ‘flood-free’ acres in Berkshire Park (located right on the fringe of Sydney’s North West Growth Centre)

…and the other is a landmark riverfront 25 acres property complete with boat ramp, water licence, 3 large rural sheds and a huge 5 bedroom home in one of the best positions along the Hawkesbury River.

If you’d like to get early access to either of these 2 new ‘Off-Market Acres’ listings or want to find out more about the other ‘Off-Market Acres’ properties that I currently have available, simply register at www.OffMarketAcres.com.au

Finally, just remember don’t get fooled by the Fake News headlines about the housing market. If you want to see what’s really going on out in the Australian property market make sure to follow the #OZpropertyAlive hashtag.

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 would like to discuss any of your acreage plans with me, don’t hesitate to get in touch.

Thanks for watching, stay safe and bye for now.

Regards

Greg Vincent