New South Wales rural and regional property sales volume in decline: Harcourts
Over the 12 months to November 2016, a total of 49,623 residential houses and agricultural properties were sold across regional New South Wales, according to Landmark Harcourts’ latest Benchmark Report (bit.ly/LHBenchmark).
The volume of properties transacting was down -6.8 percent compared with this time last year while the total value of sales fell -2.2 percent to $24.6 billion over the same period.
Over the year to November 2016, residential house sales accounted for 75.9 percent of transactions and 67.8 percent of the value of all sales.
There were 11,971 agricultural properties sold over the 12 months to November, -8.9 percent fewer than the previous year when 13,140 properties transacted.
Of the 11,971 sales, 68.4 percent were on a land size of less than 40 hectares, 15.2 percent were on 40 to 100 hectares.
14.5 percent were on 100 to 1,000 hectares and 1.9 percent of properties were on more than 1,000 hectares.
Looking at the value of agricultural property sales, $7.9 billion properties transacted across regional New South Wales over the year to November 2016.
This is down -5.5 percent from $8.4 billion the previous year.
58.8 percent of the overall value was for properties sold on a land size of less than 40 hectares, 12.9 percent were for lots between 40 and 100 hectares in size.
19.6 percent were on 100 to 1,000 hectares and 8.7 percent were on more than 1,000 hectares.
