Farm values remain strong in Central Tablelands' rural market: HTW rural

Farm values remain strong in Central Tablelands' rural market: HTW rural
Farm values remain strong in Central Tablelands' rural market: HTW rural

The NSW Central Tablelands market appears to be tracking as it did throughout most of 2018, where the number of properties being offered to the market appears to have eased and the volume of sales is less than 2017, according to the latest Herron Todd White (HTW) rural report. 

The report suggest whilst the supply of properties has eased, demand for rural holdings remains reasonably strong at present. This demand has been evident at recent auctions where there are still a good number of active bidders contesting.

"This balance of supply and demand for rural property has buoyed value levels somewhat, despite the present poor seasonal conditions.

"The (fewer) rural holdings that have sold recently indicate that value levels remain strong and the general levels we saw the market climb to in 2017 and 2018 remain in place," says the HTW valuer. 

A 500 acre farm in Gulgong has been recently sold for $440,000 (pictured above).

Situated at 1036 Dunrridgerie Road, the property comprises of 100 acres suitable for cultivation and the rest for graing or lifestyle.

The accomodation comes with three bedrooms, power, phone and satellite TV.

Other features include equipped bore, 6 dams and sheds.

Farm values remain strong in Central Tablelands' rural market: HTW rural

Kanimbla Grange, a 25 acre property with views over the Kanimbla Valley is currently on the market with $750,000 hopes (pictured above).

Located at 186 Kanimbla Drive, Kanimbla, the cabin style home comes with wood heating and country kitchen.

Kanimbla Grange also features camping, fishing and picnicking spots and frontage to the Cox's River.

A notable Central Tablelands sale in 2018 was that of Farrentoureen, Barry, selling for $4.5 million in July 2018. Farrentoureen is a 407-hectare high rainfall grazing property located 16 kilometres south of Blayney.

This sale analyses to show a strong $9,525 per hectare (excluding buildings) for open arable grazing country. 

"We are aware of several following sales nearby to the south in the Woodstock achieving a price per hectare rate (excluding buildings) of between $7,500 and $8,250 for their typical open arable grazing country components," says the HTW report.

The most active buyer group throughout 2018 in the Central Tablelands appears still to be local farmers seeking nearby and neighbouring land to expand their existing enterprises, along with out-of-district farmers relocating into the area.

Farm values remain strong in Central Tablelands' rural market: HTW rural

Another recent sale was Clearview, a 41 acre property at Mudgee for $1.26 million (pictured above).

Located at 446 Rocky Waterhole Road, it comes with elevated four-bedroom house, established orchard and quality infrastructure including three large machinery sheds.

The homestead features master bedroom with ensuite, two large living areas, chef style kitchen, and entertaining deck with views. 

 

 

Tags: 
Central Tablelands Rural Market

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