Gippsland farmers Wendy Whelan and Andrew Lay detail how they bought their property

With Victorian rural property values soaring, how is it possible for young people to break into the market and own a farm?

Young farmers are fighting against the odds to try and secure a patch of land to call their own as rural land values continue to soar to record highs.

In the past 12 months rural property prices have increased by 18.4 per cent to a median price per hectare of $7060 according to the Elders Rural Property Update.

Some younger farmers have put it all on the line in an effort to realise their dream of farm ownership.

South Gippsland dairy farmer Wendy Whelan in December secured a 390-cow property at Toora after a 20-year journey that took her from a relief milker to full ownership of the same property.

Wendy Whelan, at her farm in Toora. Picture: Yuri Kouzmin

“I always wanted to buy the property, but it was pretty daunting,” she said.

Ms Whelan’s journey to ownership took plenty of time and had plenty of setbacks.

To secure the necessary finance, Ms Whelan added to her personal assets by building her equity through buying into the land, cattle heard and machinery of the farm.

Cattle farmer Andrew Lay, 27, and his family took a similar approach as they secured a 100ha holding near Warragul.

Mr Lay started out as a farm labourer before entering into a four-year sharefarming arrangement. Over a seven-year period the Lay family developed their herd of 100 breeders, selling half when it was time to secure a farm.

Andrew Lay.

“It is very tricky trying to get land and even harder now with the land values,” Mr Lay said.

“But it is very rewarding to get something with size and have your own bit of dirt.”

Charles Stewart Real Estate director Nick Adamson said the majority of interest in his Western District properties had come from middle-aged buyers backed by family farm enterprises.

“What is the pathway for those people to get into ownership of family farms?” he said.

“The chasm has gotten further away from young people, but I don’t think farm ownership is beyond them.”

“To close the gap buyers should look at livestock ownership, leasing farms, or perhaps entering a sharefarming arrangement,” he said.

“Strong livestock ownership can be used as equity or to improve equity to get the funds needed to purchase a farm.”

Earlier this month the Coalition announced their intention to run the Future Farmer Guarantee Scheme, an 18-month $75 million program designed to support farmers into first time ownership, if they are elected in May.