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, the RateMyAgent industry awards were held and I’m extremely proud to share that our McGrath Rouse Hill office received an Agency of the Year Award for sales in 2020.

This outstanding result is not only a fantastic achievement for our team at Rouse Hill, but it’s also a terrific outcome for our clients as we constantly aim to raise the bar for customer service and set new standards of excellence to ensure that you receive the best possible experience and outcome.

On top of that, the McGrath Network also won the Large Agency Network of the Year award. I feel extremely proud to be part of such a customer-focused and professional group of estate agents.

In other news, this week HIA and CoreLogic released figures to show that the demand for residential land has increased 45.9 per cent since March last year.

“With leading indicators showing that the housing market has improved and the increased demand for residential land is further evidence of the growth occurring in the market.

Plus, with Sydney’s rapidly increasing population combined with a shortage of available land these two factors have played a big part in driving home prices up substantially over this past decade.”

With demand for land picking up, it is important that an adequate supply is maintained each year to avoid undue pressure on housing affordability, which should put pressure on the State Government, Planning NSW and Local Councils to start releasing more acreage properties for subdivision because in the end people are going to need somewhere to live and soon.

For more information visit, Increased Demand For Residential Land Set To Have A Positive Impact On The Acreage Market

As more of the North West Growth Centre Precinct Plans are released and acreage parcels become rezoned, the surrounding acreages also become highly sought after and the positive flow-on impacts are felt across the entire acreage market.

So after a lengthy wait for so many acreage owners living on Sydney’s fringes, I anticipate that the pressure for more land releases is now becoming far too great for the state government and local councils to hold them back for too much longer.

Plus the extra stamp duty, extra rates and infrastructure contributions from the developers will help add millions of dollars to their coffers to help them provide much needed community services like transport, schools, hospitals, etc.

Also, with data just released by the Australian Bureau of Statistics shows the value of new housing loans has surged by almost 21% since the Morrison Government was returned, with new owner occupier mortgages in NSW and Victoria being the main drivers.

The Federal Government First Home Loan Deposit Scheme has been extremely popular and it’s helping to fuel the bottom end of the market which will have a flow on effect into the acreage market over the coming weeks... and as I mentioned in an article earlier this week, Early Autumn Looks Like Being A Much More Active Time To Sell Your Acreage Property.

The Latest Insight Into What’s Happening In The Hills Housing Market?

Now for something a little different, this afternoon I went along to see today's auction at 57 Hadley Circuit, Beaumont Hills. I thought I’d drop by to get a clearer picture of exactly how strong The Hills residential market currently is. ...and I must say that it's on fire.

The stunning home was promoted perfectly by the McGrath team and with the bidding starting at $1.2m it climbed quickly and kept climbing way beyond the $1.5m reserve …and amongst some very spirited bidding the property ended up being SOLD for $1.67 million. Nearly $200,000 above reserve.

Here’s the Facebook Live video I recorded of the auction (from when the bidding was up around $1.5m).

Congratulations to both the owners and the successful bidders, and well done to our McGrath team for another sensational result.

....and the good news for acreage owners is that the positive wave is on its way, but, it comes with a word of warning. Be very careful if you're waiting for the acreage market to increase before you sell and your plan is to move closer into the city, you may actually be better off moving now before the prices in The Hills keep climbing higher and higher. It's just some food for thought.

So, How is the Acreage Market?

More acreage properties are starting come onto the market with another 13 new acreage listings launched this week which means that there are now currently 381 acreage properties for sale across the region.
This overall total includes 214 acreage properties For Sale in The Hawkesbury, 117 throughout The Hills and another 50 For Sale within Sydney’s North-West acreage areas of Penrith and Blacktown.
There were 6 acreage properties SOLD this week along with another 15 acreages currently Under Contract.

Out in the field, after over 6,000 internet views, 153 enquiries, 35 inspections, as well as 7 contracts having been issued and 3 parties negotiating very competitively, the property at 7 Everett Place, Annangrove has now gone ‘Under Contract’.

As you can see from those stats there are lots and lots of acreage buyers actively looking to move onto acreage at present.

So, perhaps if you’re thinking about selling your acreage property I may just have the right buyer for your place currently sitting there waiting for you amongst my acreage database.

Also, for anyone watching who may be looking to buy an acreage property, I regularly sell properties before they even appear on the real estate websites, so if you want to be kept in the loop about any new listings before they hit the broader market, make sure you get in contact with me and ask to be added to my Exclusive Pre-Launch Acreage Database.

For example, I have several new listings about to come onto the market, one of them is a stunning 25 acre property right beside the Hawkesbury River in Lower Portland which is a perfect Acreage Escape and playground for anyone into waterskiing, horse riding, motorbikes, etc.

If you'd like more information about this 25 acre property or any of the other properties that I have coming up, simply get in touch with me.

Lastly, to wrap up, I just wanted to let you know that I'm currently just adding the finishing touches to the upcoming Autumn Edition of The Acreage Report 2020 which features a special article that provide “A Look Into The Future Of What’s Ahead For Acreage This Decade”.

So, if you want to be amongst the first to receive the exciting new Autumn edition then register now at www.TheAcreageReport.com.au and at the same time you'll receive a copy of The Acreage Report 2020 (Summer edition) plus The McGrath Report 2020 which includes insights from property expert, John McGrath.

The new Autumn edition will not only feature that exclusive article, but you'll also get the most up-to-date acreage market statistics and insights into what's happening within the Hawkesbury, Hills & Sydney’s North West acreage market.

So, there you have it. That's it for this week’s Acreage Market Wrap.

As usual 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 again for tuning in and bye for now.

Regards

Greg Vincent