Farmland sales surge 22 percent in 2018 to reach $3.34 billion
- By: "Farm Tender" News
- Agri Political News
- Apr 29, 2019
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Value of farmland deals surged 22% to $3.34 billion in 2018, according to a recent report from Colliers International.
The Colliers report tracked the number and value of farm sales above $5m - with 254 deals completed in 2018.
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In Victoria, the value of farmland sales nearly doubled in 2018 to over $1 billion - sales in Queensland were up 60% to $1 billion - with a 26% drop in deal activity in NSW at just over $800m.
Leading the way in transactions were permanent crops such as macadamias, citrus, avocados, almonds and grapes. Rising commodity prices in these crops offset irrigation (water) costs that increased by 30% in 2018.
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