Rural land prices going up

General conversation and chit chat - The place for non-shooting specific topics. Introduce yourself here.

Rural land prices going up

Post by NTSOG » 25 Feb 2022, 11:59 am

G'day all,

I thought I knew the value of land locally until the other day when I saw an advertisement for 20 acres less than a mile away from my property [ 25 kms south of Ballarat] listed for about $1,000,000. It has river frontage - with all the blackberries and gorse you could ever want - but has not been grazed or occupied for over three decades. I would have estimated a value of about $350-400,000, but it seems that wealthy Melbourne ferals are leaving the city only to inflict themselves on us. Frankly they are as welcome as a boil on my bum.

Jim
NTSOG
Sergeant
Sergeant
 
Posts: 555
Victoria

Re: Rural land prices going up

Post by noneyabussiness » 25 Feb 2022, 1:23 pm

same here, some 4 beds on a house block closer to town going for 700k !!
noneyabussiness
Private
Private
 
Posts: 67
Queensland

Re: Rural land prices going up

Post by on_one_wheel » 25 Feb 2022, 2:20 pm

Everything is going up except wages.
I believe that it's an indication of the devalued buying power of the $ aka "inflation" coupled with the rise in demand for rural properties as folks flee the rat race.
Gun control requires concentration and a steady hand
User avatar
on_one_wheel
Colonel
Colonel
 
Posts: 3562
South Australia

Re: Rural land prices going up

Post by bladeracer » 25 Feb 2022, 2:28 pm

NTSOG wrote:G'day all,

I thought I knew the value of land locally until the other day when I saw an advertisement for 20 acres less than a mile away from my property [ 25 kms south of Ballarat] listed for about $1,000,000. It has river frontage - with all the blackberries and gorse you could ever want - but has not been grazed or occupied for over three decades. I would have estimated a value of about $350-400,000, but it seems that wealthy Melbourne ferals are leaving the city only to inflict themselves on us. Frankly they are as welcome as a boil on my bum.

Jim


It might still only be worth $400K, but they put a stupid price on it hoping to catch the eye of somebody with more money than sense and is desperate to get out of suburbia. And it still might get negotiated down significantly, while still making a lot more than if they'd put it on the market for $400K.

You should be able to put the address in and get previous sale history if it's changed hands a bit.
Practice Strict Gun Control - Precision Counts!
User avatar
bladeracer
Field Marshal
Field Marshal
 
Posts: 12656
Victoria

Re: Rural land prices going up

Post by NTSOG » 25 Feb 2022, 2:28 pm

One_on_one: "...as folks flee the rat race."

The trouble is that some of the 'rats' are also fleeing. Some are absolute ferals and others are posh fools who want to make the bush into rural Toorak.

I don't know which mob is worse

Jim

bladeracer: I believe it's been in the same family for decades, so there's no sale history.
NTSOG
Sergeant
Sergeant
 
Posts: 555
Victoria

Re: Rural land prices going up

Post by Die Judicii » 25 Feb 2022, 2:35 pm

NTSOG wrote:One_on_one: "...as folks flee the rat race."

The trouble is that some of the 'rats' are also fleeing. Some are absolute ferals and others are posh fools who want to make the bush into rural Toorak.

I don't know which mob is worse

Jim

bladeracer: I believe it's been in the same family for decades, so there's no sale history.


Iphelia is alive and well,,,,,,,,,,,,

Iphelia pain and anguish that is,,,,,,, :drinks: :friends:
I do not fear death itself... Only its inopportune timing!
I've come to realize that,,,,, the two most loving, loyal, and trustworthy females in my entire life were both canines.
User avatar
Die Judicii
Colonel
Colonel
 
Posts: 3706
Queensland

Re: Rural land prices going up

Post by NTSOG » 25 Feb 2022, 3:33 pm

Good one DJ!

Jim
NTSOG
Sergeant
Sergeant
 
Posts: 555
Victoria

Re: Rural land prices going up

Post by noneyabussiness » 25 Feb 2022, 7:03 pm

a house close to us went on the market for a stupid price ( way higher than valued) .. ended up a " bidding war " and they got 10 grand MORE than asking price a month after listing... and its seriously nothing special..
noneyabussiness
Private
Private
 
Posts: 67
Queensland

Re: Rural land prices going up

Post by on_one_wheel » 25 Feb 2022, 7:12 pm

I sure hope so ....
Screenshot_20220225-194049_Chrome.jpg
Screenshot_20220225-194049_Chrome.jpg (104.24 KiB) Viewed 2591 times
Gun control requires concentration and a steady hand
User avatar
on_one_wheel
Colonel
Colonel
 
Posts: 3562
South Australia

Re: Rural land prices going up

Post by brinny » 25 Feb 2022, 7:42 pm

Not only rural.....my wife showed me an sale result in Sunshine (Melbourne)...where a 3 bedroom house with 3 bathrooms on a 550m2 block sold for $1.75 million dollars....and the house wasnt anything special either.....and Sunshine aint no Toorak i can tell you.....it was a record price for the area....
A day without a hunt, is a day lost.....
User avatar
brinny
Corporal
Corporal
 
Posts: 302
Victoria

Re: Rural land prices going up

Post by NTSOG » 26 Feb 2022, 6:01 am

On_one_Wheel: "Will Sydney buyers regret moving to the regions ...?"

Over 4 decades we have seen new chums from cities come to live in the district, last about 3 years and leave to go back to the Big Smoke with monotonous regularity. This is especially so once their children get older and become socially active with their mates from town. Driving into town and back several times a day starts to become expensive in time, petrol and money; they don't seem to understand this, nor do many actually seem 'outdoors' people.

Jim
NTSOG
Sergeant
Sergeant
 
Posts: 555
Victoria

Re: Rural land prices going up

Post by Shootermick » 26 Feb 2022, 10:19 am

I’m a farmer, not far from Ballarat either.
The last block of land we bought was in 2016, a similar block sold late last year for over 4 times what we paid. It’s all well and good while farmers are having a good run and interest rates are low, but good times don’t last forever. I’m quite comfortable with my debt load, which is not small but is manageable, but I can’t see myself buying more land anytime soon for around $11-12000 an acre. You can’t get a rental out here, they’re all taken and people are paying big money for them too. Smaller lifestyle type blocks are flying off the market for big money everywhere. At some stage there will be some sort of a correction, and it might not be pretty for people who have borrowed beyond their means.
.22, .22wmr, 223, 243, 303, 20ga, 12ga
Shootermick
Staff Sergeant
Staff Sergeant
 
Posts: 795
Victoria

Re: Rural land prices going up

Post by cz515 » 26 Feb 2022, 5:52 pm

The market is hot... boiling hot. You can say a bubble.

But first let's look, it's not just houses, but cars, guns, mowers, boats, tools, everything is just going way up ridiculous. The limited supply means there is also a fomo type of effect for everything.

So back to rural, this is interesting esp in vic where people belong lockdowns feel going country is the ideal solution, currently people have lots of spare cashola, the interest rates are low and people are not spending on holidays, eating out etc.

A few years ago we were living in East Gippsland area, about the time we moved there was a huge increase in prices happening, lots of development, and then about 2 years later things went dead. People were lost huge money.

So going back to my first point. The old rule is just before a major crash the market goes really really hot. So just relax and enjoy the show. The RBA is signalling interest rates rise, companies are trying to get people back into offices. And people are refusing.

Just want until the companies realise they can get workers to work from Philippines/India for cheaper then they can the locals living in Hick town Central. And finally the people will realise why country areas such for living.

They don't have good schools, don't have public transport, no good resturant and most importantly s**t health services.

I remember how in the town I was living you couldn't get an appointment to see a doctor for 2-4 weeks usually. And both clinics had closed their books for new patients. And the specialist would come in 1 day a week to the local hospital
When good men and women can’t speak the truth, when facts are inconvenient, when integrity and character no longer matter, when ego and self-preservation are more important than national security — then there is nothing left to stop the triumph of evil
User avatar
cz515
Warrant Officer C2
Warrant Officer C2
 
Posts: 1032
Victoria

Re: Rural land prices going up

Post by Oldbloke » 26 Feb 2022, 5:58 pm

cz515 wrote:The market is hot... boiling hot. You can say a bubble.

But first let's look, it's not just houses, but cars, guns, mowers, boats, tools, everything is just going way up ridiculous. The limited supply means there is also a fomo type of effect for everything.

So back to rural, this is interesting esp in vic where people belong lockdowns feel going country is the ideal solution, currently people have lots of spare cashola, the interest rates are low and people are not spending on holidays, eating out etc.

A few years ago we were living in East Gippsland area, about the time we moved there was a huge increase in prices happening, lots of development, and then about 2 years later things went dead. People were lost huge money.

So going back to my first point. The old rule is just before a major crash the market goes really really hot. So just relax and enjoy the show. The RBA is signalling interest rates rise, companies are trying to get people back into offices. And people are refusing.

Just want until the companies realise they can get workers to work from Philippines/India for cheaper then they can the locals living in Hick town Central. And finally the people will realise why country areas such for living.

They don't have good schools, don't have public transport, no good resturant and most importantly s**t health services.

I remember how in the town I was living you couldn't get an appointment to see a doctor for 2-4 weeks usually. And both clinics had closed their books for new patients. And the specialist would come in 1 day a week to the local hospital


100% that's exactly my view
The greatest invention in the history of man is beer.
https://youtu.be/2v3QrUvYj-Y
Member. SFFP, Shooters Union.
SSAA, the powerful gun lobby. :lol: :lol: :lol: :lol:
Hunt safe.
User avatar
Oldbloke
Field Marshal
Field Marshal
 
Posts: 11192
Victoria

Re: Rural land prices going up

Post by boingk » 26 Feb 2022, 10:03 pm

cz515 wrote:The market is hot... boiling hot. You can say a bubble.

The old rule is just before a major crash the market goes really really hot. So just relax and enjoy the show.


Bingo mate. This is going to get interesting.

Hell, already seeing some Rem 7600 pop up for reasonable money so must be some desperate / realistic chaps out there.

I pity the families that are going to feel the force of the coming correction. I know a few people for who it'll be nasty.

- boingk
Nil
boingk
Sergeant
Sergeant
 
Posts: 682
Other

Re: Rural land prices going up

Post by Irish9 » 20 Mar 2022, 1:21 pm

We are another 25km south/south east of you then, assume you are around Scarsdale area?

Land prices are just crazy, we are wanting more land (1000 plus acre sort of blocks) but it is just uneconomical with current prices! 2300 acre property my wife liked, amazing old house and prime cropping country, $25 million. Block we paid $250,000 for now worth 1.5 mill and still the uninvited, unwelcome city folk keep coming!

Interest rates going up by even 1% will root a lot of people who don't have any idea what financial suffering even means yet, not going to be pretty...
Irish9
Recruit
Recruit
 
Posts: 12
Victoria

Re: Rural land prices going up

Post by Bill » 20 Mar 2022, 4:59 pm

Interest rate will end up at around 5% in the 2 years but they will be cut by the Liberals as soon as there re elected in 4 years times, they love cheap money
When a guy is digging his own grave, you don’t fight him for the shovel.

Success leaves clues, Fools follow failure !

20 Hornet, 218 Bee, 222 Rem, 256 WM, 6mm ARC, 6.5 Grendel, 6.5x55 Scan, 270 Win, 357 Mag, 358 Win, 9.3x62, 500 A Square
User avatar
Bill
Warrant Officer C1
Warrant Officer C1
 
Posts: 1253
New South Wales

Re: Rural land prices going up

Post by on_one_wheel » 20 Mar 2022, 7:34 pm

Bill wrote:Interest rate will end up at around 5% in the 2 years but they will be cut by the Liberals as soon as there re elected in 4 years times, they love cheap money


As opposed to labor who love free money
Gun control requires concentration and a steady hand
User avatar
on_one_wheel
Colonel
Colonel
 
Posts: 3562
South Australia

Re: Rural land prices going up

Post by Sarco » 22 Mar 2022, 6:10 pm

A 6 acre block less that 1K from my place (also a 6 acre block, but with 4 bedroom and study brick house) just sold (Jan 22) for $450K. It is not quite a bare block, it has power along side (doesn't appear to be connected), a shed come living space with attached carport, a separate "garden shed" 5000lt water tank and a small dam.

It has (maybe) just bumped up the value of my place to near double.

Agree with other posts, people don't understand that they must accept some limitations moving to rural areas. Just a few I can think of straight up:
Poor public transport buses to regional centres (in my case Bendigo) maybe 6 times each way per day but generally only business hours (100Km return trip)
Only 2 local medical facilities, neither of which bulk bill,
Foul tasting "treated water"
1 small supermarket with limited range
1 small hardware store also small range (but can and will order stuff for you, just wait a month till it is worth them running a truck to the regional centre)
Has what I have been told is a good primary school above yr 6 must go to the regional centre,
Bowling club open 2 days a week
Golf course - looks OK other than the kangaroo infestation.
RSL - hall and bar
A fair few fast food places (its on the northern highway), but none of them are particularly good
A couple of servos that charge what they feel like

And one that comes up ALL the time "the air is smelly" yes your neighbours may have sheep/cattle/chooks etc.
Sarco
Lance Corporal
Lance Corporal
 
Posts: 233
Victoria

Re: Rural land prices going up

Post by LawrenceA » 22 Mar 2022, 6:31 pm

Moved to the Riverina about 1 year ago.
In that time prices have almost doubled in some areas and the rest have just gone up heaps.
Having said that there is a massive residential shortage.

As far as wages go fruit pickers are cleaning up. The cost per bin is up from $32 to $50.
This equates to about $300-$500 a day.
One well placed shot is all it takes.
LawrenceA
Corporal
Corporal
 
Posts: 455
New South Wales

Re: Rural land prices going up

Post by NTSOG » 23 Mar 2022, 5:58 am

G'day,

Following up my original post about the 20 acres advertised at just over $1,000,000 south of Ballarat the new price advertised is in the range $865-915, 000. Presumably they couldn't find any wealthy suckers from Melbourne.

https://www.realestate.com.au/property- ... -203199782

As an aside the east bank of the river [outside the property fence] is zoned for legal hunting from near the bridge up to the top-left corner in the picture. Unfortunately the infestation of gorse and blackberries makes it impossible to access the area to get to the bunnies of which there are many.

Jim
NTSOG
Sergeant
Sergeant
 
Posts: 555
Victoria

Re: Rural land prices going up

Post by Tilb004 » 26 Mar 2022, 2:47 pm

Same happening in sw of wa, we've had heaps of lawyers and the like moving down here after covid .
Problem is they are prepared to pay stupid money and bring there city mentality.
Tilb004
Lance Corporal
Lance Corporal
 
Posts: 116
Western Australia

Re: Rural land prices going up

Post by Bugman » 26 Mar 2022, 3:37 pm

Could sell my suburban home for around 1.8m, but no reasonably priced rural properties around within 2-3 hours of Sydney. I have done some research but it is a sad sign of the times at present.
User avatar
Bugman
Warrant Officer C2
Warrant Officer C2
 
Posts: 1071
New South Wales

Re: Rural land prices going up

Post by cz515 » 26 Mar 2022, 5:12 pm

You just need to wait 3/5 years things might return back to normal
When good men and women can’t speak the truth, when facts are inconvenient, when integrity and character no longer matter, when ego and self-preservation are more important than national security — then there is nothing left to stop the triumph of evil
User avatar
cz515
Warrant Officer C2
Warrant Officer C2
 
Posts: 1032
Victoria


Back to top
 
Return to Off topic - General conversation