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Rural results showcase market confidence

By Grace Ormsby
15 June 2020 | 1 minute read
Rural results

Ray White Rural NSW has had a successful stint online, posting a 100 per cent clearance rate from six auctions last Friday.

First off the block was Neringah Estate, with Ray White illustrating that the 875-hectare property was owned by the “first family” of Portaloos, Malcolm and Raylee Williams.

Marketed as a mixed opportunity property, the auction had attracted 38 individual inspections, seven second inspections, and saw 13 registered bidders tune into the online auction.

Bidding on the Boorowa property opened at $5 million, and after 14 bids was sold for $6.65 million.

Ray White Rural NSW state manager Chris Malone said the result was no surprise after the strong interest Neringah had received.

“The property is a unique asset and we were overwhelmed by the enquiry we received as well as how far-reaching that enquiry was,” he said.

The same day, a second lot was sold in Goulburn by Ray White’s chief auctioneer, Alex Pattaro, while a further four properties in Tenterfield all found new owners after successful online bids.

Stephen Nell, Ray White’s rural and livestock managing director, said the results prove there’s still plenty of confidence in the marketplace.

“It was a very positive result and just a reflection of the skill of our operators in what’s been a difficult time,” he commented. 

“I’m grateful to the owners who have recognised that skill and chosen to go with Ray White and in the end it’s paid off for them.”

Addressing individuals who may be considering selling, Mr Nell has advised them that “there is no evidence to put that decision off”.

“If anything, they should be erring on the side of selling now,” he said.

Rural results showcase market confidence
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ABOUT THE AUTHOR


Grace Ormsby

Grace Ormsby

Grace is a journalist across Momentum property and investment brands. Grace joined Momentum Media in 2018, bringing with her a Bachelor of Laws and a Bachelor of Communication (Journalism) from the University of Newcastle. She’s passionate about delivering easy to digest information and content relevant to her key audiences and stakeholders.

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