Farmland values across New South Wales are managing to remain strong despite drought gripping the state.
On the NSW mid north coast, dry conditions are often referred to as a"green drought".
The region traditionally has been the destination for farmers from other parts of the state looking to buy property as a safeguard for their primary properties over the range. CBRE agribusiness director Tim Corcoran, based at Wagga Wagga in southern NSW, said high rainfall was currently driving property sales, with farmers from western and northern NSW keen to secure mixed farming land in the south-east of the state.
Mr Corcoran said it was not surprising farmland values were hitting record highs in the Riverina during this dry period as high commodity prices were helping hold the market up.
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