Agents ready for another cracker selling season

21 Aug, 2002 10:00 PM
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WA'S 2002 rural property selling season has geared up to be another remarkable year with good land prices and strong demand for quality properties in reliable rainfall areas.

The positive outlook for this season comes in the wake of record turnovers for all major property-selling houses in 2001/02 and a new WA pastoral single sale record.

Despite adverse seasonal conditions across parts of the northern and eastern Wheatbelt, WA's rural property pundits have tipped the 2002 spring selling season to be another mammoth selling year.

In 2001/02, Wesfarmers Landmark Realty enjoyed one of its best years with a $140 million turnover.

Elders Real Estate had a record turnover year, doubling the previous year's sales and signing off 2001/02 with a $256m turnover in its rural division alone.

Morgan Sudlow & Associates boasted a record year, as did John Garland International, which also set a new single pastoral sale record when Moola Bulla Station sold for $18m.

Although in its first year of business and with nothing to benchmark its performance, VNW Independent boasted a staggering turnover and has established itself as the leader in pastoral sales.

The 2002 spring selling season got off on the right foot with the sale of the highly sought-after Mt Howick group, which sold for nearly $21m this month.

Offers were placed on all three properties within two days of listing, with offer and acceptance agreements signed within two weeks.

The AXA Rural Holdings owned property was the last of the National Mutual Esperance Rural Properties farms.

Wesfarmers Landmark Realty state manager John Wilson said values in the eastern and northern Wheatbelt depended on the season's outcome and grain prices, but properties in reliable rainfall zones were in hot demand.

He said the strong demand would continue for properties in high rainfall areas.

"Land prices in the eastern and northern Wheatbelt will depend on the finish to the season and the grain market outlook," Mr Wilson said.

He said the outlook for grain prices was positive, especially considering drought in the eastern states and parts of the northern hemisphere.

Wesfarmers Landmark Realty launched its selling season with the release of the historic Glengarry Station, in conjunction with VNW Independent.

Wesfarmers Landmark Realty has also listed a number of other quality farms for auction, such as Iragana, Dandaragan, the Kurrara, Kellerberrin, and Jogalong, Wongan Hills.

The sale of the trailblazer for the Elders Real Estate spring selling season, the Mt Howick group, has cemented the likelihood of another remarkable real estate year for the company.

The sale marked a new weekly sales record for the company.

Elders Real Estate state manager Peter Storch said there was no doubt the good farms in reliable areas were attracting strong buying enquiry, not only within WA but from overseas interests.

Eastern Wheatbelt landholders who are suffering seasonal hardship were not excluded.

"We believe people are buying properties regardless of seasonal conditions and investing for the future," Mr Storch said.

"A lot of good farms sold last year and people are now realising the value of investing in rural Australia."

Elders Real Estate has listed a range of quality properties, including a once-in-a-lifetime opportunity to purchase a long-held, 1001ha family farm in Toodyay called Foggarthorp.

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