Slower rural sales across NSW Northern Tablelands: HTW
A lack of larger scale grazing property listings hindered sales in the first part of 2017 in the Northern Tablelands and North West Slopes and Plains region of New South Wales according to Herron Todd White.
HTW said the region felt strong corporate activity and sales throughout 2016 and now they are seeing more spending on on farm investment by farming and grazing operations, in particular pasture, fertiliser and water development, to take advantage of the continued strong commodity prices.
While there are reports that cattle prices are at their peak, continued demand for breeders and weaners has kept prices at record highs," HTW said.
"Higher rainfall areas in the northern tablelands have experienced an above average season with surplus feed available which is also adding to the increase demand for cows and weaners.
"Overall the market continues to attract demand from locals (looking to expand) and corporates, however the lack of available properties has resulted in a decrease in sales.
"It’s likely that listings and sales will decrease over the coming months as winter approaches.
"Vendors are less likely to list their properties as they are generally less presentable at this time of year."
