Login
iscover
Staff Reporter
Rural property values have remained stable despite price declines being recorded across most Sydney markets, PRDnationwide has reported.
"Smaller-size rural lots have proven to be a popular choice for buyers from both city and country areas," said PRDnationwide research analyst and author of the Greater Sydney Rural Lifestyle Properties report, Oded Reuveni Etzioni.
The report investigated two segments of the rural market - smaller holdings classified as 'residential rural' properties between 0.4 and four hectares, and larger 'rural lifestyle' properties ranging in lot size between 10 and 40 hectares.
Mr Reuveni Etzioni said the rural market was likely to remain subdued until the broader Sydney metropolitan market recovered, yet the outlook was positive.
"While overall activity remained stable over the past five years rural-residential properties averaged an increase of 1.1 per cent per annum [in price] and rural lifestyle properties decreased by 4.7 per cent," he said.
In addition, the median selling price for rural properties under four hectares rose slightly to $726,500 over 2010, up three per cent, and accounted for 26 per cent of total sales in the rural residential market.
You are not authorised to post comments.
Comments will undergo moderation before they get published.