Hello to You All,
The property market within Yass and Murrumbateman continues to remain very strong and demand for quality properties is still outstripping supply. Approximately ¼ of our listings are being sold prior to being placed on the open market demonstrating this strong buyer demand.
We encourage anyone who is looking to purchase to contact our sales team and register their interest so that they will not miss out.
If you are thinking of listing your home for sale please do not hesitate to contact our office as we do have a number of purchasers currently looking for homes and farms.
About to be listed are several rural properties ranging in size from 25 acres to just under 1000 acres with a mix of light grazing to arable cropping country and a rural residential home close to Yass.
Marketing Strategies - Auction
It has been interesting to see the change in marketing strategies over the last few months with some agents trying to push property marketing more akin to large cities such as Canberra and Sydney. We have noticed a rise in properties going to auction both in Yass and Murrumbateman. Despite the very strong market at present a large proportion of properties that have gone to Auction in Yass and Murrumbateman recently have either passed in with no bidding or the auction has been cancelled prior to the day due to lack of interest at the vendors price level. In most cases so far buyers have not supported this type of marketing unlike the larger cities.
The issue with marketing this way is that a failed auction can have detrimental effects on the ability to then set a price for a private treaty sale as any interested buyer has already seen the market walk away for the property so are reluctant to support the asking price in the future. Obviously, most auctions also include hefty print media costs which only add to the pain of a failed campaign.
The rental market is seeing a positive growth in terms of both achievable prices and the level of enquiry for properties. Recent open homes have seen large numbers of prospective tenants viewing, and applying for, rental properties.
While the normal cycle of tenants moving at the end of the year is occurring, many of these homes are already receiving strong interest from prospective tenants which is an improvement on previous festive seasons.
Michael Gray JP