WITH recent substantial rain across large parts of eastern Australia and a solid lift in cattle markets, the northern New South Wales property market is showing signs of gaining momentum either side of the Christmas/New Year break. See tonight’s separate story on post-rain property prospects in Southern Queensland.

Andrew Starr, Ray White Rural Armidale

October rain has lifted New England’s grazing prospects and could encourage more rural property transactions, although Ray White Rural’s Andrew Starr does not expect it to drive capital growth.

Mr Starr said many cattle producers across the region had received 100-150mm during October, with the best three consecutive weeks of rainfall in at least 18 months.

Andrew Starr RWR

The rain followed what he described as an unprecedented tough stretch from February, when the rain stopped, through to October.

“With October and November typically delivering the strongest pasture growth in New England’s temperate climate, the rainfall should help produce grass and high-quality feed quickly.”

Mr Starr said conservatively stocked properties offering feed ready for immediate use could stand out in the market, particularly where buyers could negotiate access under licence or early access.

That marked a turnaround in production prospects from five weeks earlier, when grazing yields were very low.

“Funding had been difficult this year and appetite for risk remains low. However, the opportunity to achieve immediate livestock weight gains could encourage prospective buyers to engage more seriously.”

Managing grazing conservatively

Mr Starr expects prospective vendors to manage grazing conservatively between now and the end of January, allowing them to showcase productive feed ahead of marketing campaigns in February, March or April.

“Readily available feed and immediate production potential could be the difference between securing a sale and a property spending longer on the market next year,” he said.

Despite the improved seasonal outlook, Mr Starr described property prices as a flat line.

“I don’t expect rain alone to generate capital growth, but it could lift buyer activity and lead to more transactions.”

“Spring and autumn are usually the region’s peak property selling seasons, but listings have been limited this spring due to seasonal conditions, with well-organised sellers holding off until autumn,” he said.

Mr Starr expects sellers to feel more confident about opening their farms to inspections once properties look closer to their usual condition in an average season.

“Greater confidence in available grass, combined with the possibility of early access, could also bring more buyers forward.”

Michael Corcoran, LAWD Tamworth

Recent rain has lifted seasonal confidence across northern New South Wales, with LAWD’s Michael Corcoran anticipating more rural property listings ahead of Christmas and a stronger late summer-autumn selling season.

Over the past fortnight, Tamworth has received 100mm of rain, Tenterfield up to 200mm and the Walgett area 150mm.

“The falls have freshened up the season and bolstered confidence in feed availability through summer, Christmas and into the new year. However, producers still need more rain to generate runoff and fill dams.”

Michael Corcoran, LAWD

In southern New South Wales, a strong season has already brought a substantial number of properties to market.

Mr Corcoran expects more listings in northern New South Wales between now and Christmas, with others likely to launch in the first quarter of next year.

“The timing of these campaigns will depend on how the summer season develops.”

He said the next six months would show how the improved spring season and strong cattle and sheep markets influence the New England property market.

“The region has missed favourable conditions during the past three springs, disrupting the traditional spring selling period.”

“Rain has fallen outside those spring periods, so the region has not been in drought throughout that time. Instead, vendors have brought properties to market outside the usual spring window when seasonal conditions allowed,” he said.

Following a period of limited listings, Mr Corcoran is anticipating a stronger autumn selling season.

“Some vendors have held off selling until conditions improved, aiming to present their properties at their best.”

“Several properties have already come forward. While time is running short to complete a campaign before Christmas, some are expected to be offered by private treaty,” he said.

Mr Corcoran said buyers remain active across northern New South Wales but are seeking value, mindful of current interest rates and their likely direction.

“If the numbers do not stack up on a property, buyers are prepared to move on to the next opportunity.”

“Quality properties are still selling, while B and C grade properties are proving harder to move,” he said.