Why this real estate agent thinks Roma will weather recession
AS AUSTRALIA starts to grapple with the impacts of recession, one Roma real estate agent believes the Maranoa will be able to weather the storm.
Elders rural sales specialist Daven Vohland said there are three factors that will help the rural property market stay in a good position in the future.
“The Maranoa’s placed well for the property market, we’re in a great location, and we’ve got services all around us,” Mr Vohland said.
“While commodity prices, low interest rates and a desire for producers to expand their holdings, we’ll see the property market in a healthy condition for the foreseeable future.”
Just before COVID hit, there was a considerable rise noticed in the rural property market in the Maranoa.
This was noticed with the sale of some significant properties in Wallumbilla and Bymount.
“The rain in February brought more properties onto the market,” Mr Vohland said.
“Those two properties were the first properties to come to sale in 2020.
“They met a lot of interest.”
All of Elders’ trends show that there’s been an upwards rise in property values recently but despite that, not much has been selling.
“Your good property will sit and hold, and then it’ll go again after that,” he said.
“If you drew a graph since 2000, you would see mostly upwards trends, then you’d see a levelling up around 2010.”
But while the three factors: commodity prices, interest rates and expansion of holdings are keeping the market strong, the market is predicted to keep rising.
“I see this trend continuing while commodity prices are continuing and interest rates are where they are.
“In the Roma district too, it’s a confidence boost here for people, it’s got the saleyards, it’s quite a good rainfall area really, in the scheme of things.
“It’s a regional centre too.”