Hi, and welcome to the first Saturday of the Autumn selling season for 2020.

My name is Greg Vincent and thanks for tuning in to this week’s Acreage Market Wrap where I share an insight into How’s The Acreage Market?

So this week, the Reserve Bank cut interest rates further by 0.25% with the Cash Rate now at a historical low of 0.50%. Their decision to cut rates is off the back of the Coronavirus causing global economic shutdown along with both wage growth and inflation still remaining stagnant.

The rate cut and the fact that the banks agreed to pass on the full rate cut is very positive for the housing sector and buyer sentiment, especially with affordability set to reach new heights amongst the acreage market.

Also, with First Home Buying having soared to 10-year highs as thousands of young people take advantage of stamp duty concessions, record low interest rates and the new federal loan deposit scheme to get into the market.

There are some great opportunities for first home purchasers in both metro and regional locations in 2020, and all of this added activity is helping to fuel price growth amongst the entry level priced properties, as well as the house & land packages and eventually all of the extra activity at the bottom end of the market will help to drive price growth in the acreage market.

As a result we should start to see a lot more acreage sales occurring during the Autumn months.

Enquiry for acreage has definitely increased, especially from people looking to upgrade to acreage, as well as, investors looking at moving their savings into property investment as they’re now on the look out for better returns than the banks and the share market are currently offering.

I anticipate that many will be opting to land bank or future invest in the acreage market to capitalise on the inevitable re-zonings and urban sprawl that will take place around Sydney's fringe suburbs throughout this next decade.

...and speaking of Sydney's population growth and what's going to happen this decade, you'll be pleased to know that, The Acreage Report 2020 (Autumn edition) is Out Now! ...and it features a vitally important insight into ‘What’s Ahead For Acreage This Decade? as well as identifying the Two Biggest Factors Set To Impact Acreage between now and 2030.

I have a feeling that this latest edition is going to be extremely popular because it's packed full of valuable insights into the What? Where? and When? of the changes to acreage this decade along with statistics and updates about exactly what's happening within the Hawkesbury, Hills & Sydney’s North West acreage market.

Plus, when you grab a copy you’ll also receive instant access to The McGrath Report 2020 which features exceptional information from property expert, John McGrath.

The Acreage Report is FREE, and you can access a copy right now at www.TheAcreageReport.com.au

What’s Happening In The Acreage Market?

Well during February there were a total of 39 acreage properties sold across the region, with 21 sold in The Hawkesbury, 14 sold in The Hills and the remaining 4 sold in Penrith and Blacktown areas.

The number of New Listings in February was a total of 71 across the region, which is nearly double the number of acreage properties that were Sold this past month, which means that the acreage market is currently still lagging several months behind the significant price growth which has been widely experienced across the Sydney housing market.

Currently there are a total of 402 acreage properties For Sale across the entire region. This overall total includes 222 acreage properties For Sale throughout all of The Hawkesbury, 126 in The Hills and another 54 For Sale within Sydney’s North-West acreage areas of Penrith and Blacktown.
So far for March, there’s been 22 new acreage properties listed this week and 11 acreage properties Sold this week (almost double that of last week) and another 16 properties are currently ‘Under Contract’ across the entire region.

As predicted, it’s not necessarily a booming acreage market as yet but it’s already starting to look like Autumn is set to be an extremely active acreage market for buyers.

Out in the field, I’ve had a number of more qualified enquiries from buyers this week who are currently ready & waiting to make a move onto acres, and they’re open to moving quickly or purchasing under delayed settlement conditions if they find the right property.

So, if you’re planning a move in the near future, now may be a good time to capitalise on the positive mood in the market ...and if you’d like a McGrath perspective on market value and discover how you can maximise the value of your property, don’t hesitate to get in contact with me.

Well there you have it, that’s it for another 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 and bye for now.

Regards

Greg Vincent