Strength in ru­ral mar­ket

Warwick Daily News - South West Queensland Rural Weekly - - News - ERLE LEVEY erle.levey@sc­news.com.au

IN the past 12 months Ray White Ru­ral Queens­land has no­ticed the ru­ral and ru­ral life­style mar­ket go­ing from strength-to-strength, with the mar­ket gen­er­ally see­ing an up­swing in buyer con­fi­dence.

The con­tin­u­ing high de­mand for agri­cul­tural com­modi­ties, es­pe­cially beef, has contributed to this con­fi­dence and as a result has seen many large scale prop­erty trans­ac­tions take place in the past 12 months.

This year the Ray White Ru­ral Network has han­dled $1.4bil­lion in sales, up $75mil­lion on last year a record for the group.

Ray White’s Peter Dou­glas said the buoy­ant res­i­den­tial mar­ket, com­bined with the agri­cul­tural mar­ket, has trans­ferred through to ru­ral life­style prop­er­ties in South-East Queens­land.

“This has seen an in­crease in trans­ac­tions hap­pen­ing across mul­ti­ple price points and types of life­style prop­erty.

“We have also seen an in­crease in trans­ac­tions of prop­erty in the Ip­swich area and Scenic Rim where there were very few sales above $1mil­lion in the last few years.

“How­ever, the 16/17 fi­nan­cial year has seen mul­ti­ple sales rang­ing from $1.2mil­lion to $2.75mil­lion for life­style prop­er­ties. Of these sales was Walker Downs which sold for $1.6m and Bre­mer View which sold for $1.375m, both prior to auc­tion.’’

The Sun­shine Coast has also seen an in­crease in sales over the past 12 months with sev­eral high end prop­er­ties sell­ing af­ter sev­eral years in the mar­ket.

One of these sales was The Look­out, a 41acre coun­try es­tate at Mount Mee sold at auc­tion for $1.375mil­lion and the neigh­bour­ing prop­erty sell­ing five months later for $725,000 - also at auc­tion.

Barry Quinn and Jez McNa­mara han­dled both these sales, with more than 50 in­spec­tions in a four-week pe­riod on each prop­erty.

“They (and the ven­dors) are very pleased with the re­sponse,” Mr Dou­glas said, “and said it was a good case study as to the level of buyer in­ter­est be­ing achieved across mul­ti­ple price points of prop­erty.

“Just up the road on the banks of Som­er­set Dam, An­drew Goodall and Jez sold a breath­tak­ing lake­front prop­erty at auc­tion with 10 reg­is­tered bid­ders.

“It has been great to see so many sales in the ru­ral life­style mar­ket. How­ever, there has also been strong in­ter­est and sales in South East Queens­land of larger more com­mer­cial agri­cul­tural prop­er­ties.’’

These in­clude hor­ti­cul­tural, crop­ping and graz­ing prop­er­ties. Sev­eral lo­cal Bris­bane sales in­clude Bre­mer View, Bo­minda, Bo­mar­ick, Scotchy Pocket and Walker Downs which all traded in the multi-mil­lion mar­ket.

The broader ru­ral mar­ket has seen many sig­nif­i­cant sales this year with the sale of Gle­nalvie at Ebor, near Dor­rigo in NSW, that sold in ex­cess of $17.5m and Man­ners Creek, north-east of Alice Springs in the NT, which sold for $15m. Both sold to well known Aus­tralian ru­ral fam­ily busi­nesses.

The Ray White Ru­ral team all have no­ticed that with the prop­er­ties they have mar­keted in 2017 that close to 60% of all en­quiries have in­spected the prop­erty.

What has been no­tice­able is the way prop­er­ties mar­keted well in print me­dia have been bring­ing po­ten­tial buy­ers to in­spect prop­er­ties, Jez McNa­mara said.

“This is ev­i­dent in the ru­ral and life­style prop­er­ties Ray White Ru­ral Queens­land/Bris­bane have sold this year across all mar­ket seg­ments and we see no rea­son this will change in the com­ing 12 months.”

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