Gympie farm prices have surged 7.3% in 10 years and the only direction they can go is up

A new report from Rural Bank Australia reveals the average price of a hectare of farmland in the region has gone through the roof in the past decade

Gympie’s rural real estate expert Tom Grady says the region’s soaring farmland values are unlike to flatten out soon.

There is gold in them there hills, and not just in the traditional sense.

Farmland prices near Gympie continue to rocket, with a new Rural Bank report revealing the region’s prices have experienced the highest 10-year growth in southern Queensland.

The report reveals rural properties in the the region have recorded a 7.3 percent compound annual growth rate in the past decade, with the median price per hectare now sitting at $10,077.

This was almost twice the average value of farmland in Queensland. which is $5200 per hectare.

It is also more than double the 10-year-growth rate experienced across the rest of the southern region, which stretches from Bundaberg to the South Burnett and down to Toowoomba and the Scenic Rim.

RB Australia data Gympie farmland prices

Gympie’s prices were also good news in the short and long term: over the past five years the annual growth rate has been 9.8 per cent (the second highest behind the Sunshine Coast’s 11.9 per cent rate) and over the past two decades the rate has been 9.4 per cent (again behind only the Sunshine Coast’s 10.2 per cent).

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Rural real estate expert Tom Grady was unsurprised by the soaring prices and said a lot of the farms being sold were not explicitly for primary production but rather had gained real estate value in their own rights.

And the figures were likely to keep rising for some time yet, he said.

The region’s farmland is selling for an average of $10,077 per hectare, almost double the Queensland average. Photo: Scott Powick Newscorp

“I don’t think we’ll reach a plateau for the next couple of years,” Mr Grady said.

He said the eastern side of the Bruce Highway was the popular choice for buyers as it put them squarely between the Cooloola Coast and the city of Gympie.

Lower Wonga and its immediate surrounds also drew attention as it was “within half an hour of Gympie”.

“With cattle prices the way they are, at an all-time high, it only makes sense the region’s prices will continue to go in one direction: up.”

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