Interest in rural property high but access to loans not so easy - Bayleys

Despite banks offering record-low interest rates in the wake of COVID-19, borrowing money for rural properties isn't a walk in the park.

Bayleys rural real estate country manager Duncan Ross says the focus now for banks is not so much on the value of the land, but on how much cashflow can be generated.

Ross says since the COVID-19 lockdown ended, the company has been "getting people across farms and getting contracts in place".

"The interest from prospective buyers is one thing, but accessing funding to put that final signature on a tender or a contract document is quite a different story at the current time," Ross told Rural Today.

Listen to Duncan Ross' full interview with Rural Today.

This article was created for Bayleys Rural Real Estate.

Rural Today with Dominic George weekdays from 5am on Magic Talk.