The nation’s farmland costs have practically doubled through the previous three years, in response to new knowledge from the Australian Bureau of Agricultural and Resource Economics and Sciences.
The common per-hectare worth for broadacre farmland rose by 93 per cent from 2020 to 2023.
ABARES head Jared Greenville mentioned the “extraordinary” development may very well be put right down to a mixture of low rates of interest, robust commodity costs and elevated demand for land.
“Farmland is often used to secure lending, so increases in value can both improve equity and drive investment,” Dr Greenville mentioned.
The greatest worth hikes had been recorded in high-rainfall areas, the place the value has elevated by 125 per cent throughout three years to $9000 per hectare.
The wheat-sheep zone has additionally skilled robust development, leaping by 80 per cent to $3465 per hectare over the identical interval.
The common worth of pastoral farmland elevated by 130 per cent over the three years to hit $1528 per hectare in 2023.
Dr Greenville mentioned the most recent farmland worth estimates might now be accessed by ABARES’ new Farmland Price Index on-line instrument.
“Users can make price comparisons between farming zones or download data for their own analysis,” he mentioned.
Source: www.perthnow.com.au
