The median price of a hectare of farmland fell 2.5 per cent in the first three months of 2022, but is not the start of a trend says Elders.
“It’s not the start of a trend [of falling prices],” Mr Ough told“In WA and SA, farmland sells for comparatively lower prices per hectare, hence the decrease in the median price.”
“The first quarter of the year is the shortest of the year in terms of working days, and transactions usually take a dive.” “There’s still a lot of demand in the system, but not a lot of supply. This will keep prices high,” he said.Demand has been fuelled by more profitable farmers looking to expand their holdings amid record prices for grains and beef, and amid forecasts of a record $83 billion crop this financial year, and an $80 billion harvest in fiscal 2023.
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