Firstly, I am pleased to announce our Winner at the recent NCHA Futurity, whose details are attached. Also, I am writing to update you on the rural market and pleased to share statistics, our plans for the future and my personal views of the current local rural market affecting property sales.

Statistics are proving that lifestyle properties are becoming more popular, particularly those located within two hours driving time of a capital city CBD or 30 kms from major regional centres. As affordability constraints put the brakes on the sea change phenomenon, more and more buyers are seeking a ‘green change’, which include properties that may or may not have an established dwelling, including agricultural properties and hobby farms.

Although there is uncertainty within global financial markets, I still see lifestyle properties becoming more popular with people relocating to the Tamworth region for work transfers or business opportunities. Moving forward, I believe a demand for these types of properties is likely to increase due to an ageing population, which are moving towards retirement, many of which grew up on farms and are looking to get back to a more natural environment, with room to run some livestock and grow crops. Meanwhile these retirees look to maintain proximity to cities or large regional centres such as Tamworth, which is the second largest in New South Wales.

As affordability constraints put the brakes on the sea change phenomenon, more and more buyers are seeking a ‘green change’ and as Tamworth continues to grow with rural infrastructure such as our Australian Equine and Livestock Events Centre, together with our dam capacity boasting over 90% last week, I remain positive in sales as our region continues to attract horse enthusiasts and other rural buyers.

During the past five consecutive weeks, statistics reflect an increase in the number of new listings advertised across the market nationally and last week has again increased, suggesting that vendor confidence is well and truly improving. In this soft market, the criteria that Vendors need to understand is, that some discounting is likely to be required and it is about setting the listing price at a reasonable and achievable sale price, still  ensuring that the Vendor makes a maximum profit. Also, initial advertising and presentation of the property is paramount as a new listing will always attract prospective buyers.

Admittedly, this market reflects a reduction in buyer enquiries so, its time to develop new marketing strategies to seek qualified buyers.  In saying that, you may have noticed some of our vendors advertising ¼ page ads in the Saturday NDL. With this additional medium, we design the ad giving a strong visual impact now covering all bases on both the internet and local market leaving ‘no stone unturned’!

This is time for ‘real’ real-estate and we are aggressively investing time and funds into advertising, promotions, trade shows, sponsorships together with additional salespeople coming on board. To date, the results have proven outstanding and we are passionately providing service to both potential buyers and vendors. 

We specialise and stay focused ‘only’ on rural properties and don’t deviate into residential or rentals. We speak daily to people from all sides of the spectrum Australia wide and at the same time, we are building a database of serious buyers, who will make their decision when they are more confident within this current financial market and when their accountants give them the green light!

Property listings that remain on our database can be assured of maximum exposure to all our buyers as they enter the market in the Tamworth district.
As we continue to remain ‘positive’ and confident ….together we will weather the storm!

If we can be of any further assistance, please feel free to contact us at anytime.

Best wishes for the coming Christmas season.
Kind regards,

Barbara Laurie
Lifestyle and Rural Properties

Your decision on location, schools, access to work etc, needs to be clearly thought out and approaching your bank or lender to pre-qualify your loan will help you determine the price you can afford. By doing this, it will also present you to the seller as a genuine buyer and this will give you more negotiation leverage when you make an offer to purchase the property.

A lender typically uses the 28% formula (your monthly mortgage can't exceed 28% of your monthly income) in approving your loan. Planning your actions and getting pre-qualified will keep you out of the panic mode and allow you to take advantage of opportunities. Preparing yourself before you shop, will save you both time and money!

Your main reason for buying a home should be the value you are getting from the purchase and it goes without saying, that some of your top priorities should logically be sacrificed if an incredible value is available.

Although an offer can be made verbally, it is not legally binding until it is in writing and signed by both parties. This is usually known as a contract note or contract of sale.

At this stage the agent can ask for a deposit from the buyer, which will validate the offer. This is known as a holding deposit, though it is not compulsory and will be returned if the offer is withdrawn.

The deposit is normally 10 percent of the agreed purchase price and is payable upon signing the contract. A prospective buyer should carefully read and understand the document before signing the agreement.

If the contract is made 'subject to finance' the buyer should always nominate a lender in the relevant section of the contract and specify a time frame within which the condition must be met.

When you've decided to purchase a property, to avoid spending thousands of dollars for repairs, it is advisable and essential for everyone to have a qualified home inspection.