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?

A lot changes in a week in 2020. Last week I reported that the 20 people rule for auctions had been enforced in NSW...and now less than a week later, the Minister of Health and Medical research provided the real estate industry with an exemption under the Public Health (COVID-19 Restrictions on Gathering and Movement) Order 2020 in NSW.

From September 4th 2020, a person is exempt from clause 11 of the Order if they are at a place of residence for the purpose of;

a. viewing or inspecting the premises for the purpose of the sale or lease of that residence; or

b. conducting or participating in an auction for that residence

The exemption is subject to the following condition;

i. the occupier of the place of residence must take reasonably practical steps to ensure that the real estate agent conducting the auction, viewing or inspection of residence has and complies with a COVID-19 Safety Plan.

Also, this week it was reported that property listings in Australia continued to decline in August and Louis Christopher from SQM Research feels that this could be attributed to two reasons, but actually I really believe that there’s a third reason which the research companies have completely ignored. I’ll share my take on that in a moment.

The number of listed properties declined in August by 6.3% on a monthly basis and 10% on an annual basis. This was largely driven by the significant dip in Melbourne at 13.2% as the lockdown restrictions in Victoria have become one of the biggest causes for the drop in listings across Australia in August.

The second factor that Louis Christopher believes could be driving the drop in listings is the increasing demand for homes in regional markets.

He recently reported that “We continue to record falling supply in Australia's regional areas. Our take on that phenomenon is that demand has boomed for regional real estate as more of our populations looks to remote living”. Which is yet again another positive sign for the acreage sector.

Now the third reason that I believe has been totally overlooked is the growing number of properties which are being sold ‘off-market’ which means that those properties don’t add to the tally.

You only have to see the recent realestate.com.au TV ads that have been specifically created to try to discredit the ‘Off-Market’ approach, purely because having lots of agents selling properties ‘off-market’ is bad for their business model and it’s bad news for their shareholders.

REA Group posted a 6% decrease in revenue for its 2020 financial year and a 9% decrease in profit to $268.9m

Just a word of warning. Don’t be tricked by their TV ads. They have purposely hired a stereotyped male actor who is made out to look like an idiot in front of his family. If you haven’t seen the ads as yet, here’s REA’s new campaign against off-market selling.

Nowadays there are lots of different ways that you can sell your property and every person’s circumstances need to be assessed individually.

There’s no One-Size-Fits-All approach to selling your home, especially if it’s an acreage property.

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How’s The Acreage Market?

Currently there are 381 acreage properties For Sale across the region. This total includes 207 acreage properties For Sale throughout The Hawkesbury, 116 throughout The Hills district and another 58 acreages For Sale within Sydney’s North-West acreage areas of Penrith and Blacktown.
There were another 22 new acreage listings come onto the market this week to kick-off the Spring market. There were only 7 acreage properties Sold this week which and there are currently 22 acreage properties ‘Under Contract’ across the region which shows that there’s a lot of buyer activity in the acreage market at the moment.

Out in the field this week, the 5 acres property at 114 Fisher Road, Maraylya went Under Contract and four other properties have been negotiated which should exchange during this week or early next week.

I launched 2 off-market acres properties yesterday, one at 10 Bennelong Place, East Kurrajong and the other at 9 Avon Place, Windsor Downs which looks like it’s already been sold.

Plus yesterday I listed 2 more amazing acreage properties which are going to be launched ‘off-market’. One is an incredible dual-accommodation property which is seriously like living in a resort and the other is an incredible opportunity for equestrian buyers looking for a quality home on top-quality acres.

It’s been a hectic week and it looks like it’s only getting busier between now and Christmas. If you’re looking to sell your acreage, I’m currently working with heaps more buyers looking to move onto acres than there were this time last year.

Plus, if you’re looking to buy acreage and want to get in early for any of my ‘off-market’ acres listings, make sure to check out... www.offmarketacres.com.au

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 Happy Father’s Day and bye for now.

.Regards

Greg Vincent