THE rural property market is continuing to look strong, with Western Australia's leading rural property specialists reporting strong demand and limited supply.
Elders Real Estate senior rural real estate executive Simon Cheetham said he was yet to experience any drop in demand for WA farmland in 2022.
"As we enter the prime sales season for broadacre properties, those farms already listed have received very strong interest and are generally selling quickly," Mr Cheetham said.
"It remains a sellers' market and we envisage prices to remain high with potential for further upside for the foreseeable future."
Nutrien Harcourts real estate manager west region Darren Tapscott echoed these thoughts, having just had a successful online auction in Cunderdin last week.
"The market is as strong as it was last year, if not stronger in some areas," Mr Tapscott said.
"Demand is still there, possibly not to the extent it was last year, but there's plenty of it and enough to maintain some pretty hefty values.
"The outlook remains fairly strong, we're looking forward to a good spring campaign."
While concerns about a foot and mouth disease and interest rates may affect the future bouyancy of the rural property market, noone seemed too concerned yet by the potential headwinds.
"The current global situation, volatility in commodity prices and a looming threat of foot and mouth disease can certainly impact grower confidence, however these don't appear to have dampened the property market," Mr Cheetham said.
Ray White Rural director and co-owner Rob Chittick said he expected the market to stabilise over time, due to higher input costs and global affairs.
"We would expect the market to continue its strong trend," Mr Chittick said.
"It'll probably stabilise, interest rates are higher, it's hard to know where commodity prices will be because of what's going on overseas with Ukraine."
Mr Chittick and Ray White Rural Albany Kojonup principal John Hetherington said it was a good time to think about listing a property due to the record high prices.
"Anyone considering selling or buying will want to take careful consideration of where the market is currently, it's at an all time high, and if you were to be considering moving on or retiring, now would be a great time to do it - when demand is outstripping supply," Mr Chittick said.
"It's a window of opportunity to sell at the moment, because in 12 months time it's going to be a lot tighter - with lower commodity prices and higher interest rates," Mr Hetherington said.
"If ever there was a time to sell, it's now."
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