Glenn Rea - McKean McGregor
2018 was a year in Bendigo (Central Victoria) that held a lot of promise, but never delivered. The season started solidly compared to our Northern Pastoral neighbours who were experiencing severe drought. Limited rainfall throughout the critical Spring, meant that the farming season went from being one with a lot of potential, to one our farmers would rather forget.
Our rural area is renowned for it’s mixed farming enterprise (cereal crops and sheep), which allowed for some positivity to enter the sector. Even though our crops failed, our farmers rejoiced with lambs achieving record high prices of up towards and on occasion, $300 per head. Record wool prices were also attained, with wool indicator smashing the 2000c barrier. An all important reason to ensure diversification exists within a business, especially in the Agri sector.
We are hoping for a turnaround in 2019 so our farmers can experience a terrific season across all divisions.
Our business is also one of diversity. Along with helping our hard working farmers achieve outstanding results through our innovative marketing platforms for livestock, we also strive to achieve these outcomes for clients selling rural and residential property. Due to our real estate business being situated in such a large regional city, we sell a large volume of residential property. Bendigo is one of the fastest regional growing cities in Australia, yet has some of the best buying value in the current property market - our median house price sits at $395,000. With Bendigo situated only a 90 minute drive from the CBD of Melbourne, we have seen a strong push from people looking to relocate from Melbourne as either commuters or for a change of lifestyle. The property market saw our average days on market through the winter period reduce from 90 days back to 21 days. However, with more properties for sale throughout spring, the market once again slowed and days on market went back out to the average days on market.
From our team at McKean McGregor, we wish everyone a safe and Merry Christmas and a fantastic 2019.