UNCERTAINTY in the marketplace made rural properties more difficult to sell this spring.
Despite a good supply of properties, wary buyers and stubborn vendors forced agents to undertake tougher negotiations to secure sales.
"In the past, if properties had things that needed to be done to them buyers would be aware and take that on board but buyers now are very astute," Landmark agent Scott McCormick said.
"They are looking for value for money."
Pat Rice and Hawkins director Peter Hawkins said some properties had taken more negotiation to sell, while vendors adjusted to the reality of how much their properties were worth.
"There's good general interest in a lot of properties but vendor expectations in many instances, not all, but many, haven't adjusted to the different figures (of the value of their property)," Mr Hawkins said.
Auction results collected by The Weekly Times indicated that large numbers of properties had been passed in at auction, only to be sold hours or days later.
Mr McCormick said he had noticed this trend had increased during the past few months.
"That's because it is taking some vendors a little bit longer for the reality to sink in that that's what their prop erty is worth," he said.
Several large properties up for auction or tender this spring remain on the market.
Properties yet to be sold include Stratman Farm, at Allendale East, ($10 million), Kurrambee, at Hamilton, (about $7.1 million), Wantabadgery Station, at Wagga Wagga, NSW, ($12-16 million), Hazeldean, at Jindivick, ($24,710/ha bare), and Leslie Manor Homestead, at Leslie Manor, ($2.2 million).
Elders' Shane McIntyre said he had a number of properties under negotiation.
"There is a significant amount of property in the market place," he said.
"I am expecting negotiations to continue well into December on a number of properties."
Mr Hawkins agreed and said he expected to be busy with negotiations in the lead-up to Christmas.



