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In this edition of the Rural Property Update (RPU) we have analysed Q4 results and provided a summary of rural property trends for the year.
By the end of 2023 we saw farmers terms of trade start to improve as input costs trended down, and seasonal conditions improved despite the dire predictions at the time. This led to a rebound in farmers’ confidence. The softening of farmland values in the first half of the year reversed with a strong rebound in the second half of the year, and the rolling 12 month median value of Australian farmland increased by 6.3 per cent by year end.
Elders rural property update draws on transactional data from every rural land sale in Australia. This data is supplied by Corelogic and analysed by Elders. Every effort is made to clean the data in order to provide an accurate account of price and volume movements.
“A key feature of the Australian rural property market was the continued low liquidity. Since 2021 Australian property turnover has declined year on year. Australian farmers
are deciding to maintain their investments in Australian agriculture. This suggests that most farmers have a positive view of medium and long term prospects, looking through
short-term volatility.”
– Mark Barber, Elders GM Farmland Agency & Agribusiness Investments, Australia.
Read the full Quarter 4 2023 report…
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