This Queensland property sale suggests that the rural sector is bucking the trend of subdued buyer activity amidst interest rate rises.
Pine View Park lives up to its name with a stunning, towering pine tree lined driveway as you enter the property.
The property is spread out over three freehold titles and consists of about 606 acres of undulating, fertile country in a high and reliable rainfall area.
Selling agent Kent Street from Ray White Rural Sarina said it was an excellent buy.
“The property was very well improved, with other key features being the size, location to Mackay, irrigation allocation and multiple titles. The property couldn’t have been presented better by the seller.”
He said the sector is yet to see a downturn on the back of increased interest rates.
“The great result has the rural sector bucking the trends of interest rate rises. Good quality properties are still in short supply and well sought after.”
He said the recent wet weather has helped build confidence in the rural sector as well.
“The good rain over the past weeks provides confidence to those out west that they’ve got good times ahead” he said.
Mr Street said there would have been about four bidders who were “in the ballpark” of the sale price and there was a lot of comment that this was the best property they’ve seen.