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?

Earlier this week, John McGrath shared his forecast into how he sees the property market unfolding in 2020 and his report also included the 8 Key Things To Know About The Market in 2020.

Here’s a link to John’s 8 Key Things To Know... They’re definitely worth checking out if you’re interested in knowing more about the trajectory of the market in 2020.

Also, the Australian Financial Review reported this week that the rebound is pushing property prices to record levels.

Separate figures in the latest quarterly house price report from Domain showed that the rebound has gained momentum in Sydney, which posted its first annual growth in two years.

If prices continue at their current pace, the market will recoup the $165,000 lost during the 18-month downturn, with the median house price expected to break the $1.2 million barrier by the middle of this year.

Also, Yesterday, I tuned into one of the most insightful property forecasting discussions I’ve ever seen by leading market analyst, Louis Christopher from SQM Research and Real Estate Coach, Tom Panos where they discussed the Australian Real Estate Market Predictions in 2020.

A couple of key points forecast by Louis Christopher were both a V-shaped recovery as well as a ‘Great Sellers Market’ this year.

If you’d like to see the recording and the state by state predictions along with the 2020 Boom & Bust Report check it out here. It’s definitely worth watching if you’re looking to buy or sell property this year.

So, How's The Acreage Market tracking compared to the housing market?

Whilst all of these housing market reports are indicating a rapid V-shaped price recovery, the acreage sector is currently experiencing more of a U-shaped response to the market.

This slower market recovery is mainly due to the high volume of acreage stock that still remains unsold and the fact that the number of sales occurring v’s the number of new listings coming onto the market is currently maintaining more of a status quo within the acreage sector.

For example, there were 11 new acreage properties listed this week and there are currently 360 acreage properties For Sale across the entire region
...with 196 acreage properties For Sale in The Hawkesbury region, 115 in The Hills and 49 For Sale in Sydney’s North-West acreage areas of Penrith and Blacktown.
However there have only been 3 properties Sold this week across the entire region. But on a more positive note, there are 13 properties that are now ‘Under Contract’.
Even though there may be a bit of a lag period before we experience the same percentage price growth as the housing sector, the acreage market is definitely on the improve.

I've experienced a stark contrast between the level of acreage buyer enquiry so far this year versus the start of last year.

I'm finding that the astute buyers with greater access to credit are now looking to get into the acreage market before it rebounds significantly.

Now out there in the field this week, there was still a good number of buyers out & about today considering that it's the long weekend.

Also the creek front 5 acre property at 197 Willeroo Drive, Windsor Downs went ‘Under Contract’ plus I’ve had several requests for contracts on my other listings and I also listed an acreage property in the Vineyard Stage 1 Release Area which is a great investment opportunity for anyone looking for something with development and future growth potential. Make sure you keep an eye out for that one.

So with most people back from holidays and the kids heading back to school the property market will settle back into a more predictable rhythm.

The way things are currently tracking it looks like my predictions in the Summer edition of The Acreage Report 2020 are all starting to fall into place.

If you haven't grabbed a copy of it already, visit www.TheAcreageReport.com.au to get your FREE copy now.

It's packed full of great insights into exactly what's happening in the acreage market in The Hills, Hawkesbury and Sydney's North West.

Lastly, in other news, Hawkesbury City Councillor, Nathan Zamprogno raised a few questions earlier this week about a DA application for a Hindu Temple being proposed on an acreage property in Pitt Town, especially after a number of residents had approached him about the development. If you’d like to know more about this DA application visit

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

If you have any questions about anything I’ve mentioned in this video or would like to discuss any of your acreage plans with me, don’t hesitate to get in touch.

I just want to say Happy Chinese New Year to all of my Chinese clients.

Have a great long weekend ... and Happy Australia Day for tomorrow everyone. I’ll see you next week. Bye for now.

Regards

Greg Vincent