Gympie farmland becomes hot property according to agent Warren Smith

Real estate experts have revealed what’s behind the almost $40m worth of farmland sales in six months across Gympie and the South Burnett.

Tom Grady Real Estate agent Warren Smith said the farmland boom in the region comes down to life style. Pictures: Supplied.

With 30 farms across the region sold in just six months, it is safe to say there is a hot market for rural properties, according to Gympie property experts.

Tom Grady Real Estate’s Warren Smith said people are seeking a tree change in the wake of the pandemic.

RP Data shows sales of farmland in the Gympie Regional Council area since May totalled $39.2m.

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“For two and a half years people have been cooped up,” Mr Smith said.

“They’re not looking for a place to live … they’re looking for a lifestyle.”

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Mr Smith said rural properties in the region have seen a major increase in value.

“It’s a supply and demand thing – we’ve got the supply, they’ve got the demand,” he said.

“We’ve found a lot of people … are paying cash.”

The median price for farms sold over the past six months was $1.86m.

The most expensive rural property sold, which was located in Murgon, fetched $8.52m.

This property on Gayndah Road in Murgon recently sold for more than $8,500,000. Picture: Supplied.

Majority sold in the past six months were for cattle, with several orchards and one pineapple farm among them.

Mr Smith said recent buyers fell into two categories, city slickers seeking a tree change and experienced farmers looking to downsize in a cooler climate.

One such farmer is Doug Miles, who recently purchased a cattle breeding and fattening property in Glastonbury.

This property at Glastonbury was recently purchased by Doug Miles. Picture: Supplied.

Mr Miles previously owned two separate properties West of Rockhampton, but decided to downsize ahead of his upcoming retirement.

He said the Gympie region offered great value for money, and was closer to family.

“Gympie has always been renowned as good cattle country,” Mr Miles said.

“Gympie’s quite a good centre.”

He hopes to raise 200 head of cattle on the property.