Tamworth values expected to soften in 2020: HTW rural

Though patchy, Tamworth has seen a positive start to 2020, according to the latest Herron Todd White (HTW) rural report.

The property valuation firm suggests, with large areas of New South Wales still affected by the ongoing severe drought, follow up rain and a return to average seasonal conditions was required before a more optimistic outlook can be taken. 

The report was issued in early February before the heavy rains across some of NSW.

"There remains reasonable demand for rural land in New South Wales, particularly from existing land-holders looking to expand and we expect this to continue throughout 2020."

"Values appear to be holding, however it is expected that if the drought shows signs of breaking and there is return to normal seasonal conditions, there may be an influx of listings which has the potential to create an oversupply which may in turn lead to a softening in values over the next 12 months."