Southeast region a standout

Southeast region a standout

Local Business Feature
The southeast region has quickly caught up to other areas of the state in regards to property value.

The southeast region has quickly caught up to other areas of the state in regards to property value.

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It has been the belief that the southeast has been an undervalued area for the last decade and it has now caught up to other regions.

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Last year saw the establishing of new pricing levels within regions of the state.

It has been the belief that the southeast has been an undervalued area for the last decade and it has now caught up to other regions.

"Across Australia there is so much country that does not have the benefits the south east offers," Pinkerton Palm Hamlyn and Steen (PPHS) Real Estate's Renea Virgo Boddington said.

"These include underground water, rainfall, good soils, grazing capacities, and a diversity for grazing, cropping and horticulture.

"These benefits place the south east in a very strong position for future development and capital appreciation.

"Northern producers and corporate operations are now making headway into the area to ensure the overall expansion of their operations are diversified."

PPHS Real Estate had a successful year in the rural scene with the auction held for Glenrise at Penola realising $14.5 million for 728 hectares, an Edenhope auction realising $3400 acre for grazing country and a property auction at Poolaijelo realising $2882 per acre.

They also sold properties offered and contracted prior to advertising.

"Demand locally for lease land is also seeing returns in the four to six percent range," Ms Virgo Boddington said.

"It seems to be a preferred expansion in the short term than buying.

"Enquiries come from both local and northern producers trying to secure assurance in the current climatic conditions.

"On the livestock side we have seen unprecedented prices for breeding stock with young breeding ewes topping over $400 and ewe lambs reaching $360.

"Pressure will be on the mutton and lamb suppliers as numbers are still reducing in other areas with re-stocking still taking place."

Cattle in 2019 saw a large influx coming into the region from NSW during the Autumn, which provided numbers of feeder and finished cattle for the spring.

"Our company is celebrating the milestone of 25 years in business in 2020," Ms Virgo Boddington said.

"Rural land is a safe, stable and solid investment, with good returns expected even in leasing and capital growth over the next five years."

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