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Demand soars for high rainfall farms in Vic, SA
17 Mar 2003
There's keen interest in high rainfall area properties in Victoria, according to Elders' Bob Sherwell, but although demand is up, listings are down 30 to 40 per cent. The South Australian rural property market has also been "particularly buoyant", says Wesfarmers' Simon McIntyre, and there's a shortage of listings there also. Values in the SA market are up 15 to 20 per cent over the previous 12 months.
Tasmania's regular rainfall areas have also been the focus of keen bidding for sheep and cattle properties, with Elders Tasmania saying that properties are selling quickly after an increase in enquiries. However, there hasn't been a price leap, but a "firming up" of values over the previous eight to 10 months.
In Western Australia, a year of record sales is continuing, with listings at their lowest for several years and two to three years' stock being sold in 12 months.
In Queensland, Wesfarmers says that property values have stayed firm, despite the pressure on cotton and cane farming properties.
Australian Financial Review, 17/3/03.
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