Strong sales continue in NSW Central Tablelands: HTW
A number of strong sales throughout the Binalong and Boorowa area of the Central tablelands in New South Wales with auction results so far exceeding expectations according to Herron Todd White.
HTW's November rural report said the trend for this region was several strong sales following on the back of several previous strong sales, generating growing market optimism in that area.
"One sale was Billabong at 239 White Flag Road, Binalong (above), a 904.14 hectare property located approximately 21 kilometres south-east of Boorowa and 30 kilometres north-west of Yass. Billabong sold through CBRE at auction in Canberra on 4 August 2016 for a consideration of $5.825 million," the report said.
"The vendor was a Sydney based buyer. Water is a feature of this property which also enjoys extensive frontage to the Boorowa River. This sale indicates a strong value of $6,443 per hectare overall including buildings for a relatively large and well improved holding. The strength of this sale demonstrates the optimism currently prevalent in the market.
"Another sale illustrating the current market is The Cliffs at 655 Stapletons Road, Molong. The Cliffs sold through local agent McCarron Cullinane Orange on 8 August 2016 for a consideration $1.75 million. The sale shows a value of $6,441 per hectare overall including buildings. The 271.7 hectare property is gently undulating open arable country throughout, bene ts from Bell River frontage and is generally typical of the appealing country seen around the Cabonne area."
