Farm land prices continue their amazing growth in 2017
- By: "Farm Tender" News
- Agri Political News
- May 01, 2018
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Read the report here -
Watch the video here - https://youtu.be/S8v4Dk6Gi_U
The value of land underpins our farming businesses and rural communities. That’s why Rural Bank’s specialist insights division, Ag Answers, has again produced the Australian Farmland Values report for 2017.
Summary
This year’s report shows that Australian farmland values continued to rise in 2017.
The median price of Australian farmland increased by 7.1 per cent in 2017, contributing to an average annual growth rate of more than 6.6 per cent since 1998.
At a state level, the performance of farmland prices was varied in 2017, with large year-on-year increases recorded in New South Wales (+8.8 per cent), South Australia (+17.1 per cent), Tasmania (+19.3 per cent), and Victoria (+9.5 per cent), but decreases reported in Queensland (-2.8 per cent) and Western Australia (-6.5 per cent).
Across all states and territories, the average annual growth in farmland values over the last two decades remains at between five and 7.7 per cent.
The report underlines the inherent value of Australian farmland, while reinforcing the importance of taking a long-term view of the performance of Australian farmland values.
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