Early Autumn Looks Like Being A Much More Active Time To Sell Your Acreage Property

As mentioned in this week’s Acreage Market Wrap, I shared that more acreage properties are starting to get Sold as we’re nearing the end of the Summer 2020 selling season, “with 16 sales this past week plus another 13 acreages currently Under Contract and positivity back in the market” …and this positive trend looks set to continue.

In a recent article, property expert John McGrath shared how the early bird sellers will catch the worm

With “data just released by the Australian Bureau of Statistics shows the value of new housing loans has surged by almost 21% since the Morrison Government was returned, with new owner occupier mortgages in NSW and Victoria the drivers.” 

The Federal Government First Home Loan Deposit Scheme has been extremely popular and it’s helping to fuel the bottom end of the market which will have a flow on effect into the acreage market over the coming weeks.

The initiative was so popular that reportedly 5,700 first home buyers have already signed up. In fact, a few brokers I have spoken to said that many have missed out on being amongst the first 10,000. The good news is that there will be another opportunity for a further 10,000 to apply when the next batch becomes available on July 1 which will further fuel the positive growth in the housing market.

Latest figures from SQM Research show the number of homes for sale increased nationwide in January, which is quite unusual for the holiday month, but they remain well down on 12 months ago. 

The biggest increase was in Sydney where listings for sale rose 5.1% in January compared to December but are still almost -25% down on January 2019. Auction clearance rates in the first couple of weeks of February were in the 70%-range, which is considered strong. 

With historically low interest rates plus houses in the residential areas selling a lot faster and many now achieving record prices, an upgrade to an acreage lifestyle property has become more achievable and affordable.

Early Autumn looks set to be a very active period within the acreage sector with lots more qualified buyers now entering the market.

If you’re thinking of selling, early Autumn could be the perfect time to capitalise on the current positivity in the market and secure a high quality buyer for your acreage property within a shorter period of time.

If I can be of any assistance to you, don’t hesitate to get in contact with me.

From a great insight into the current property market, make sure you check out John McGrath’s article about how the early bird sellers will catch the worm

Regards

Greg Vincent