Ray White Emms Mooney Partner Josh Keefe says the local rural property market has gone from strength to strength, after multiple years of drought and COVID-19. Contrary to some reports, Mr Keefe said COVID-19 restrictions had not impacted rural property sales in Cowra and surrounds, and said that he took 578 phone calls in one week about the same property he had on the market.
According to Mr Keefe, low interest rates and instability had motivated investors to ‘park’ investment funds into agriculture, with an excellent long-term investment yield history of 7.5% gross capital growth only every year for the past 20yrs, plus farm return.
“On average I’ve been receiving two to three hundred phone calls per rural property listing,” he said.
“Sydney and Canberra residents have significantly influenced the property market throughout regional NSW, with an influx of metropolitan purchasers, looking to relocate - being motivated by ‘lock-downs’, and with the outlook of a better country life.”
He said most auction listings were generating multiple strong offers prior to scheduled auction dates, with owners opting to accept offers prior under his guidance and assessment, to make sure informed decisions are made.
“I have never seen the market so strong, enquiry is at an all-time high and sale results have never been so good. If there was ever a time to sell, it is now,” he said. “Even since the Greater Sydney lock-down, we’ve still been receiving permit applications for Sydney residents to come out and inspect properties, in accordance with the current Public Health Order , where a negative test must first be received.”.”
Stay Connected
Cowra News to your inbox
Sign up now for the latest news from the Cowra Area direct to your inbox.
