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Farmland value jumps 3% on back of cattle market

Gympie's farmland values have increased 3% in the past year.
Gympie's farmland values have increased 3% in the past year. Craig Warhurst

GYMPIE farmland has been hot property, with a 3% increase in value reported in 2016.

The growth is part of a bigger trend, with Queensland values rising 10.3% and playing a significant role in the 9.3% increase in farmland value Australia-wide.

According to Rural Bank's new Australian Farmland Report, the median price of Gympie farmland was $6730/ha in 2016.

The median price for the previous three years was $6518/ha.

Of the surrounding regions, only the Sunshine Coast was valued higher at $12,593/ha.

Gympie also had the second highest number of transactions of the Wide Bay-Burnett-Sunshine Coast region with an estimated 81 transactions in Gympie last year, behind only the South Burnett (91).

Gympie real estate agent Tom Grady said the growth of the cattle market in the past two years had played a large role in the growth.

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Although property prices had resisted the initial growth with many unsure if the cattle market would remain strong, he said they were now catching up and, if it continued, the future was bright.

 

Tom Grady said the cattle market has played a big role in the value rise.
Tom Grady said the cattle market has played a big role in the value rise. Arthur Gorrie

"We could see a 5% increase in the next 12 months," he said.

Imbil's Ron Jeffery agreed, saying the Mary Valley market was in the middle of a positive movement, with some properties he has resold in the past 12 months attracting higher prices.

"It's genuinely healthy when prices are increasing," he said, but added it was important for a balance to be maintained so rising prices did not outpace the ability for buyers to enter the market.

Region values

Value per hectare, estimated number of transactions

* Gympie: $6730, 81

* Fraser Coast: $6491, 30

* North Burnett: $2778, 79

* South Burnett: $4164, 91

* Sunshine Coast: $12,593, 28

Topics:  farmland gympie rural land value properties

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