Echuca and Deniliquin rural markets remains steady: HTW rural
Staff reporterJuly 7, 2020
A good autumn with most of the area receiving around 100 millimetres of rain during March and early April has instilled early confidence in a reasonable season in the Echuca and Deniliquin markets, according to the June Herron Todd White (HTW) rural report.
The valuation firm looked at the influence of trade wars, pandemic outcomes and commodity prices on the rural sector, and provided an update of how rural real estate is performing across locations and industries.
Locally, farmers are quite confident of a good season and reasonable commodity prices despite the obvious impact of COVID-19.
Agents are reporting a gradual increase in enquiry for rural property over the past month or so that will no doubt translate into a gradual improvement in sales activity.
"We are aware of two sales contracted in late March that are at levels similar to pre COVID-19."
A significant influence in the market has been the low interest rates and the perception that interest rates will remain at or around this level for the foreseeable future," the valuation firm said.
A mixed irrigation and dryland holding to the south of Deniliquin contracted for sale in April 2020 for about $10 million, showing around $2450 per hectare excluding water.
The purchasers were local farmers, indicating plenty of confidence and strength in the market place, the report notes.
"At this point in time, the general outlook for rural values in the area is for values to steady or see a slight rise," the valuation firm said.
A Carag Carag farm has recently been sold for $335,000.
The property at 662 Blamey Road (pictured below) features four bedroom homestead, colorbond shed, internal fencing and native garden. 'Currently the farm is used for grazing stock.
A current listing is Yallum Vale, a 422ha Dairy farm in Echuca priced at $3.8 million.
The 1151 McKenzie Road property (pictured below) includes two homes on separate titles, 50-stand rotary dairy and machinery shed.
It is located just 10 minutes south east of Echuca.
