Outlook arid for bush property sales season 24/08/2009 11:00:00 AM The spring sales in the bush will be tougher this year, with a full list of farming real estate waiting to be sold and a shortage of cashed-up buyers. The Australian Financial Review reports that tighter credit and a decline in value for many rural properties is dragging deals out and making transactions more difficult and the dry winter in many locations is not helping.
Already agents are reporting drops in value. Elders national manager Shane McIntyre is telling his rural property agents around Australia to be more flexible and creative when it comes to doing a deal.
"You have to introduce new vendor terms, bring in deferred payments and increase concessions," Mr McIntyre said. "And there will be an increased propensity for walk-in walk-out deals."
