Reality hits hard for farmers trying to sell

December 7, 2010 at 12:58 pm

Greg has recently been asked by the Sunday Star Times to comment on the Hawkes Bay rural property market. To read the full article click this link. In summary Greg comments are

…and regionally there are some signs of a lift. In Hawke’s Bay, property valuer and analyst Greg Morice said while larger grazing blocks were not selling, sales of smaller sheep and beef units of about 100ha had increased. Morice said that seemed to be because farmers were able to get finance for smaller blocks to add to their portfolio but not for larger properties. He said good properties were still selling beyond expectations but the more remote areas had taken a hit.Morice says part of his work was partnering with rural real estate agents to help sellers accept changes in the market. “Vendor expectations are still based on prices fetched two to three years ago. Agents who have a good cash buyer are using valuations to help make vendors see reality.”

Advertisements

Entry filed under: Rural Market.

Notable Hawke’s Bay Lifestyle Property Sold for $3,100,000 Daniels College of Business Studies – University of Denver


Calendar

December 2010
M T W T F S S
« Nov   Jan »
 12345
6789101112
13141516171819
20212223242526
2728293031  

Most Recent Posts