Australian Farmland Values Expected to Slow After Decade-Long Growth

Published on May 8, 2024

The upward trend of Australian farmland values are slowing down after marking its tenth year of continuous growth, as revealed in the 2024 Rural Bank Australian Farmland Values report. The national median price for Australian farmland rose by 201 percent at a compound annual growth rate (CAGR) of 11.6 percent over the past decade, surpassing the 20-year CAGR of 8.4 percent. Although the national median price increased by 6.4 percent in 2023 to $9,575 per hectare, it marks the second-lowest year of growth across 10 years. “It is clear that the market has changed from two or three years ago when unprecedented growth in values was occurring,” said Rural Bank Head of Agribusiness Development Andrew Smith....

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