Acreage Market Wrap - 8th August 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? 

This week, property expert John McGrath listed the stimulus programs that are keeping our property prices stable.

It’s interesting to see how the Coronavirus pandemic is impacting the housing market in different areas and how each of the Stimulus packages like Jobkeeper, Jobseeker, Early access to superannuation, Loan deferrals, Help for small business, HomeBuilder and Big stamp duty breaks in NSW are playing a critical role throughout the property sector.

If you’d like to get more detailed information about the article from John McGrath, here’s the link.

Currently we are experiencing a pre-Spring surge of activity and it looks like a lot of people are getting in ahead of the traditionally busy Spring market in an effort to secure their next move.

These first few weeks of August look like being a great time to capitalise on an early-mover advantage, especially if further restrictions start to be imposed in NSW.

With the NSW Government finally deciding to impose compulsory 14 day isolation for people coming in from Victoria as well as overseas travellers, we may be able to keep lockdown restrictions to a minimum.

However, if we start to see a significant increase in COVID-19 cases in NSW, we may see similar restrictions to conducting Open Homes and On-site Auctions as we experienced earlier this year.

So if you’re thinking about buying an acreage property and you need to sell your property to buy, then you might want to consider getting everything prepared like, doing your agent interviews and getting a couple of Market Appraisals (it’s always good to get a 2nd opinion), get contracts prepared and even have all of your professional photographs and video taken so that you can be ready to go onto the market when you find the right acreage home.

The same goes with anyone thinking of selling their acreage, right now could be the time to get the ball rolling with a similar preparation process so that you can be ready to strike while the irons hot. 

...and speaking of striking while it’s hot.

How’s The Acreage Market?

Currently there are 380 acreage properties For Sale across the region. This total includes 212 acreage properties For Sale throughout The Hawkesbury, 117 throughout The Hills district and another 51 acreages For Sale within Sydney’s North-West acreage areas of Penrith and Blacktown. 

There were 24 new acreage listings come onto the market this week (that’s nearly 3 times the number of new listings than there were this time last week, which makes me think that the Spring market may be arriving a bit earlier than expected this year).

There were only 5 acreage properties Sold this week but a really positive sign is that there are 25 acreage properties ‘Under Contract’ across the region.

Out in the field this week, negotiations have been happening thick & fast as several properties are currently in the process of going ‘Under Contract’ after competitive bidding amongst numerous buyers with multiple offers put forward to my clients on several acreage properties and several sales are now underway.

Also, this week I listed an off-market acreage property in Windsor Downs which is set on 8 acres, with an existing equestrian business and a modern-style homestead which has potential for dual accommodation which could also provide additional income potential.

It’s an excellent opportunity for someone looking for extra income as well as a relaxing acreage lifestyle where you can simply sit back in style and count the money rolling in. I’ve already had a number of buyers inspect the property within the first 24 hours and I don’t think it will be available for long.

If you’d like to know more about this property, get in contact with me.

So, if you’re looking to buy an acreage property and would like to get early access to any of these places that I list ‘off-market’ , make sure to visit... www.offmarketacres.com.au

Also, if you’re thinking about downsizing from acres, make sure you check out the video we did on Thursday for the property at 40 Pitt Street, Richmond. It’s going to be ‘hot property’ when we officially launch that amazing home to the market early next week.

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