NSW Central Tablelands rural buyers seeking proximity to regional centres: HTW

Interest and value levels appear to be remaining strong in the rural areas of the NSW Central Tablelands, according to Herron Todd White’s 2016 December report.

The property valuation advisory firm says that the usual buyers - neighbouring landholders, local landholders, some Sydney based buyers - are active.

However they are seeing some buyers relocating from western areas to be closer to the regional centres where their children are going to school and closer to services.

Residential amenity, along with access and proximity to regional centres continue to be key features of attraction, HTW advised.

The season remains good, it noted.

"Naturally a large portion of producers (and horticulture / viticulture operators too) are requiring some respite from wet weather as various crops ripen," HTW said.

"The northern end of the Northern Tablelands is enjoying possibly its best season in ten years, following good winter rainfall, with the exception being parts of the eastern side which generally perform best with autumn rains.

"That said, cattle prices remain buoyant (forget any talk of boom), lamb prices remain buoyant and there is great activity to get summer crops such as soya bean in where possible."

This has led to a strengthening of demand for all sections of real estate.

"We have seen a rise in the number of corporate sales in the area and agents advise that sales of smaller properties are occurring," the report stated.

Residential sales remain steady, with slightly less completions than 12 months ago.

With seasonal conditions and commodity prices as they are, HTW noted the expectation is for increased activity into the new year.

The southern end of the Northern Tablelands, concentrating on the Tamworth Regional Local Government area, has seen both a mix of local farming family expansion and corporate interest with the sale of two large aggregations in the Garoo area (south of Tamworth) to RIFA Australia, which reflected improved rates of $7,350 per cow area and $7,300 per cow area.

Local expansion in the Nundle area saw the sale of Tindaroo (pictured above) at an analysed rate of $7,700 per cow area.

Other areas of interest were properties in higher rainfall areas, particularly south of Walcha in the Niangala area, which saw the sale of Aberbaldie to Paraway Pastoral at an analysed rate of approximately $5,900 per cow area and the sale of Eulo for an analysed rate of approximately $6,400 per cow area.

Both these properties, whilst in an 850 to 950 millimetres rainfall area, had limited recent pasture and fertiliser development.