Hi to you all,
My apology for the time it has taken to get to this latest blog however the market over the Winter months has been fantastic keeping us very busy with both strong sales and increased listings.
Many of the sales have occurred prior to our properties being listed on the internet so if you are looking for a property please feel free to give my team a call so you don’t miss out.
Despite recent strong sales we do have more new listings coming in at present ready to hit the market.
Below is a breakdown of what has been happening in the market of late.
Residential – Rural Residential
Strong demand over winter has seen many listing sold. The re-introduction of the stamp duty exemption for first home buyers on existing homes has seen an increase of first home buyer activity in the market.
There continues to be a mix of buyer regions including Canberra, Sydney, Southern Highlands, South Coast and interstate.
The market for Rural Residential has remained very strong with a lack of supply and many of these buyers are from Sydney, Southern Highlands and Coastal regions where these markets have strengthened. At least 30% or our listings for rural residential have been sold prior to listing.
Rural residential land has been in short supply in the region including Murrumbateman where the latest releases at Jiparu, Walgrove and Kirketon are all but sold out. The strong demand and lack of supply has seen values for certain lots has increase substantially.
Quality grazing properties, especially those with arable land are almost impossible to secure at present again with very strong demand coming from Sydney and Southern Highlands areas. Rapid development of agricultural land in outer Sydney is forcing growers to source land closer to Yass.
Lifestyle type blocks with low agricultural production are still a bit slow to move and supply of these types is meeting demand but all other rural is at an all-time high if you can secure a listing.
While the general enquiry for older commercial buildings remains static mainly due to lower (under 7%) commercial return on investment from those styles of buildings there has been some very positive activity from both local and Sydney developers who are looking at substantial projects within the Yass township. This fresh interest and confidence in the future potential of the Yass township is very encouraging and Yass Real Estate has been actively working with all stake holders to try and secure these projects for Yass which will greatly enhance our growth especially with securing jobs.
Michael Gray JP