Quarterly Review December 2009
A return of buyer confidence resulting in an increase of activity with a good level of sales
achieved in the second half of 2009 and in particular for the period between October and December.
The larger grazing/cropping properties with the capacity to support a farm manager in the higher rainfall areas are keenly sought after with some strong sale results for holdings ranging from 1000 – 4000 acres.
Demand for the lifestyle segment of the rural market, which had been greatly effected by the uncertainty of the effects of the Global financial crisis, followed by the devastating February fires has shown good signs of recovery in the quarter ending December 2009. Sales in the Yea and Acheron valleys, along the Murray, Ballan and Ballarat areas and in South and
The marketing strategies for rural property have been certainly tested throughout the latter part of 2008 and in the early part of 2009 with property not presenting as well as normal due to extremely dry conditions and a reduction of buyer confidence. The auction method together with a dedication to our clients to ensure no stones were left unturned in finding a buyer, once again was the most successful method compared to other methods of sale.
With good 2009 Spring rains in most areas, a marked increase in buyer confidence, a stable local economy and interest rates still relatively low we look forward to 2010 with great expectations.