Acreage Market Wrap - 27th June 2020

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?

Whilst there’s been a bit of uncertainty about the possibility of a second wave of COVID-19 restrictions in the media this week, it certainly hasn’t stemmed the flow of interest from buyers in the acreage sector. In fact, there seem to be a lot more people now looking to escape away from the city life and they’re seeing this North West part of Sydney as a convenient & affordable rural lifestyle option for their family.

Speaking of affordable, I caught up with a client the other day and we got talking about the current interest rates and some of the incredibly low home loan deals on offer today.

He was saying that he was recently quoted a fixed mortgage rate of only 2.19% and some lenders are even offering cashbacks of up to $2,000 to help you refinance.

There are some incredible deals available at the moment and if you’re planning to stay put for the next few years a home loan health check is definitely well worth your time & effort in the present climate, because chances are that you might be missing out on some substantial savings.

For anyone watching this who may be considering an upgrade from a residential block to an acreage lifestyle on Sydney’s fringes, you’ll find that acreage prices are currently about their most affordable level that they’ve been for the past 5 years.

…and if acreage buyer activity keeps increasing at the current rate and available acreage stock levels continue to decrease, the affordability gap looks like it will widen very quickly as upward pressure starts to drive price growth within the acreage sector.

You see, this next week is going be very interesting to watch what happens in the housing sector after the injection of an extra 10,000 first home buyers enter the market across Australia.

Many of these first home buyers have been hanging out for the 1st of July to hurry up and arrive so that they can try to snap-up the next batch of the Federal Governments First Home Loan Deposit Scheme allocations, and we could start to see activity increase in the market like we saw back in January when the first 10,000 became available.

We are already starting to see more activity in the acreage sector and when comparing the acreage stats, with where they were a few weeks ago, it’s now quite noticeable that acreage stock levels are steadily reducing during these Winter months and acreage sales are now on the increase.

How’s the Acreage Market?

Currently there are 399 acreage properties For Sale across the region (the first time there’s been less than 400 available for months). This total includes 234 acreage properties For Sale throughout The Hawkesbury, 114 throughout The Hills district and another 51 acreages For Sale within Sydney’s North-West acreage areas of Penrith and Blacktown.

There were 12 new acreages come onto the market this week, and there were another 20 acreage properties Sold this week (and that’s on top of the 16 acreages that were Sold last week). Plus, there are currently 19 acreage properties ‘Under Contract’ across the region.

Out in the field, there were a lot buyers out & about looking at acreages this week. We had a great turn out at today’s Open Homes, plus I was really surprised by the volume of buyers who attended our midweek Twilight Viewings earlier in the week, plus enquiries levels for acreage was still very strong and was up slightly on last week’s levels.

Coming up this week, I’ll be launching the 2 ‘Off-Market Acres’ properties to that I mentioned briefly last week. One’s an exclusive landmark riverfront 25 acres property on the Hawkesbury River. It’s an amazing property. The other is a very unique acreage opportunity that’s located in a prime position just on the outer fringes of the North West Growth Centre.

If you want to be among the first to see either of these 2 new ‘Off-Market Acres’ listings or would like access to the other ‘Off-Market Acres’ properties that I currently have available, simply register at www.OffMarketAcres.com.au

Finally, if you want to stay up-to-date with what’s really going on out there 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