Strong demand for agricultural commodities and recent rainfall has created perfect conditions for those looking to sell rural land, despite the current coronavirus climate.
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Kevin Hicks Real Estate owner Kevin Hicks said farm properties were being listed online all the time.
“It’s very safe to conduct inspections in the current environment, families can still inspect the properties when appropriate,” the Shepparton agent said.
Mr Hicks said the market for farmland was stronger now than 12 months ago, due to increased demand for agricultural products.
“The opportunity for farming cash flow has improved because the commodities are in higher demand, including dairy and cereal products.”
Mr Hicks said there was good start to the year as a result of recent rainfall levels, and that it would only improve with more rain to come.
He was optimistic that buyer inquiries from growing family businesses would increase, but said corporate inquiries had slowed due to COVID-19.
Landmark Shepparton manager Michael Downie said properties that were on the market had now been sold, without a price drop.
“We had an auction on Thursday on Auctions Plus, which was the first online auction in the Goulburn Valley region,” he said.
“It sold for 60 grand above reserve, had 11 registered bidders and 884 people viewing the sale.”
Mr Downie said there was a strong demand for cropping and grazing properties.
“No-one really knows what’s going to happen in the future, but whilst there’s a strong, vibrant market, it’s a fantastic time to sell.”
He said the price of water had more than halved in the past month, giving buyers and sellers increased confidence.
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