Rural real estate changes in the past 12 months have been astounding, according to real estate state manager Simon McIntyre from Nutrien Harcourts in South Australia.
South Australia has experienced massive changes in climatic conditions, significant bush fires, positive agricultural outlooks in most sectors, economic interest rate environment at the lowest level it's been for 30 years and then throw a COVID-19 pandemic into the mix.
That is a roller coaster ride of factors and with some planned luck and good management, SA is travelling towards positive territory in the rural property market.
Two dynamic changes that have occurred over the past 12 months are supply and demand which are key fundamentals in determining rural property values.
There has been a significant shortage of available options for buyers with listings down to the lowest levels seen for 20 years.
Demand has consequently driven an upward price trend in some segments to heights never seen before.
Mr McIntyre was keen to point out not all sectors have seen the significant price rises, but did say those areas still feeling the lengthy drought conditions, particularly in the pastoral regions, will hopefully have their turn in the spotlight after experiencing crippling dry conditions for a sustained period.
Conversely, the reliable rainfall sectors have seen an upward price trend in some cases as much as 25 per cent over such a short term of 12 months.
"It's understandably hard for property owners to keep up with the variations and changes that have been occurring," he said.
"We are seeing buyers taking the unprecedented step of paying significant premiums in exchange for securing their choice of property.
"Off market transactions are happening as some buyers don't wish to allow the property to hit the open market.
"It is critical for vendors to understand the changes and events that have occurred in the real estate market place when considering what price is right for their property.
"Exercising their right to maximise sale price outcomes is fundamental."
The other element of constant change impacting prices and outcomes is the formats of digital marketing that accompany a rural sale in the current climate.
While technology is driving the agricultural scene in Australia, it is also having a significant impact on the methods and detail of information when making decisions to buy rural property.
Not only is information that is important, it is how it is packaged to meet demands of concerning buyers.
"We are able to reach more buyers in much quicker time with a lot more detailed information than ever before," Mr McIntyre said.
"Nutrien Harcourts are the leaders of this marketing and dissemination of information to buyers to capture the best outcome for vendors.
"It is change that is expected and it is change that we are delivering.
"Change is part of life and none more so for all who are experiencing life's curve balls being thrown at them in the past 10 months.
"It's adapting to the change that shapes our future and embracing the change, that can bring very positive outcomes and opportunities for rural property owners.
"I am confident that some continued seasonal and favourable conditions will restore and add further strength to the rural property sector in the coming 12 months."
Values in many sectors of rural property in SA continue to see many corporate buyers being left out of the state markets. While corporate buyers are still supporting the eastern states where values continue to rise, their keenness is not identified with the same ferocity in SA over the past 12 months.
Scale is still sought by most, but the tradition of expanding still forms the basis of many transactions to regional buyers in SA.
Relocating rural interest to different regions continues to be a source of demand.
"It's very difficult to give SA a one factor 'fits all' approach, as there are different drivers in different sectors of the state," Mr McIntyre said.
"A common thread is the underlying strength of demand in SA.
"Rain events in the far north will bring its rewards to those still waiting and we will continue to try and manage the fundamentals of low livestock numbers throughout Australia to meet consumer demand."
