Ongoing drought impacts buyer's decision to pursue rural property in NSW: HTW rural

While there remains some positive sentiment in the rural property market across New South Wales, the ongoing drought is starting to have an impact on some buyers’ decisions to pursue rural property, according to the latest Herron Todd White rural report.

The valuation firm noted that, despite this, agents are still reporting higher levels of enquiry than they have experienced in the past several years, however a lack of supply is evident as landholders are waiting for improved seasonal conditions before trying to market and sell.

"We are seeing continued sales across most areas of New South Wales, particularly higher rainfall areas, however due to the negative climatic conditions encountered over the past 18 months there have generally been lower sales volumes.

"We expect this trend to continue while the area receives below average rainfall."

The HTW valuer, Angus Ross added, "the continued dry seasonal conditions across large parts of New South Wales are limiting the market’s enthusiasm for expansionary activities.

"It is our opinion that the positive cash flows generated in most areas during the past two years have been funnelled into debt consolidation rather than any expansionary movements."

Recently, Heathlea, a mixed farming property at Rannock, just a short drive from from the village of Coolamon NSW, has been sold for $2.69 million (picutured above).

Comprising 452 hectares of productive fertile farm land, Heathlea at 2718 Ronnock Rd comes with water security, stock and domestic water scheme, 61 ha of established Lucerne, and an additional 61 ha sown Autumn 2018.

Addtional features include three stand woolshed, sheep/cattle yards and spacious three bedroom brick home.

Another sale is a Mudgee rural lifestyle block which was sold for $330,000 on August 27 (pictured below).

Located at 1243 Lower Piambong Rd, the parcel of land consisiting of 50.92 hectares or 125 acres has been fenced into three main paddocks.

It features three dams with ample water for stocks, timber cattle yards, and rural views.

It's only 20 mins drive from Mudgee.