Declining commodity prices, a dry seasonal outlook, and higher interest rates have brought the booming market for farmland to an inflection point, according to analysis by Rural Bank.The median price per hectare grew just 0.1 per cent in the first half of this year, but the median national price per hectare of farmland grew by only 0.1 per cent in the first half of 2023.
"While prices were high and growing quite quickly, that brought a lot of sellers into the market," senior insights manager Greg Kuchel said. But values for livestock grazing country are not faring the same, with values in the far west of NSW and northern WA recording lower value growth than the first half of 2022.
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Source: FinancialReview - 🏆 2. / 90 Read more »