See how much your farm is worth with median prices revealed

The median price per hectare for farmland in every municipality in Australia has been revealed. See how much your farm is worth and compare regions here.

The median price per hectare for Australian farmland by municipality has been released.

THE median price per hectare for farmland in every municipality in Australia for 2020 has been revealed in a major report released today.

The Rural Bank report found that in Victoria last year, the median price per ha for Gippsland was $10,450 with 302 transactions, in the North West, $3459 with 173 transactions, in Northern Victoria, $7399 with 617 transactions and in the South West, $9884 with 519 transactions.

Rural Bank’s Andrew Smith said larger parcels of land in cropping areas such as the Mallee and North Central were highly sought after.

“Gippsland saw strong demand for larger parcels of grazing land which altered the transaction mix in the region in 2020,” Mr Smith said.

Rural Bank’s Greg Kuchel said in the North West, there was strong demand for land in a tightly held market.

“Lease to purchase agreements were common across the region, which resulted in several off-market transactions where buyers were willing to pay a premium to avoid going to auction,” Mr Kuchel said.

Charles Stewart’s Andrew Dufty from Hamilton said prices for some properties had been making 10 to 15 per cent more than expected this year.

“Since spring prices have jumped to levels well beyond what we thought they would be,” Mr Dufty said.

“We have been seeing most properties purchased by long standing district operators as well as some who are new to the area and wanting to expand.

“At some point prices will have to level out though and I think we are getting close to that. When there is a rise in interest rates and commodity prices drop back, it’s these factors that will make an impact”.

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