Municipality guide: How much could your farm be worth?
A new report has revealed the median price of farmland in more than 300 regions across Australia. See the figures and how prices have changed in your district.
Varied seasonal conditions across different parts of the country affected demand for Australian farmland, with buyer confidence sliding in those areas hurt by low rainfall last year.
Farmland in both the Wimmera and the state’s southwest was some of the hardest hit, with values declining by more than 20 per cent in multiple districts, the Bendigo Bank Agribusiness 2024 Farmland Values report showed.
Farmland in the West Wimmera dropped by 24.38 per cent, year-on-year, to a median of $10,229 a hectare, while in Yarriambiack values reduced by 17 per cent to $10,229 a hectare.
Further south, prices in the Corangamite shire dropped by 26.2 per cent to $18,001 a hectare, while in the Golden Plains region values dropped by 31 per cent to a median value of $12,777 a hectare.
Herron Todd White director VicTas Graeme Whyte said a difference between buyer and sell expectations halted sales in the market last year.
“In 2024, rainfall was below average across most of the state, particularly during the growing season. Thankfully, many areas had some stored soil moisture from rain in late 2023,” Mr Whyte said.
“Property sales decreased in 2024 as farmers focused on preserving cash during the dry period
from April to October.
“Some properties didn’t sell because vendors wanted 2022 sale prices, which buyers weren’t willing to pay.”
Bendigo Bank Agribusiness senior manager industry affairs Neil Burgess said he expected farmland price to remain relatively stable, with anticipated interest rate cuts unlikely to drive widespread resurgence in demand.
“Farmland availability remains tight and mixed seasonal conditions across the country, combined with ongoing uncertainty in global trade and commodity markets are expected to limit the prospect of substantial growth in 2025, so our outlook is for continuing moderate growth in farmland values across 2025,” he said.
See the state-by-state guide of how farmland prices changes in each municipality:
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