Rural market still going strong with several high-priced sales

The combined sale of 'Abbeyville' and 'Wilruma' properties, situated in the west of Crookwell, for $5,325,000 echoes it.

"The properties have been bought by a local family from Gunning for expansion of their existing grazing interests. They were interested in 'Abbeyville' and wanted more area so bought 'Wilruma', which is a private land," said Peter Reardon, principal, Goulburn and Crookwell, Landmark Harcourts.

The two properties front the Lachlan River with approximately five kilometres of dual frontage.

'Wytaliba South' in Roslyn was sold for a record price of $3,230,000, for about $16,000 per hectare in November last year.

The property was 200 hectares in size and included a modest four-bedroom ensuite home, tennis court and a hay shed.

The owner, from Sydney, was looking for expansion of their existing cattle grazing enterprise.

"The rural lifestyle and rural residential markets have also remained strong with good interest and values being underpinned by Sydney purchasers," Mr Reardon said.

There are several other rural properties which have been sold for a good price.

The historic 'Rossiville' on the outskirts of Goulburn, fronting the Wollondilly River, was sold for $4,500,000 in December last year while the iconic property 'Trentham' was sold for around $6.3 million in March this year.

Meanwhile, properties such as Lambs Lane, Mummel achieved $1,100,000 and 'Joppa', Hume Highway achieved $1,750,000.

Mr Reardon said that close proximity of Goulburn to areas such as Canberra and Sydney played a key factor in the demand of such properties.

"Buyers feel that these areas are more reliable and are ready to purchase here. People in Sydney want to come out of Sydney. That is also driving the market with competition from lifestyle buyers who really want the lifestyle benefits and to move out of the city," he said.

According to the 2019 Australian Farmland Values report by Rural Bank, Goulburn ranks third on the list in south east NSW with a 16.4 per cent increase to an average $9395 per hectare in 2018.

Mr Reardon said that the rural market was still very strong. "One of the factors holding people back is the ability to obtain finance a bit more readily. The amount of time it can take between receiving an offer on a property and whether someone can go through the offer, it can take five or six weeks," he said.

"Shortage of rural property on the market is another issue."

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