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Elders rural property update (RPU) draws on transactional data from every rural land sale in Australia. The Australian rural property market showed mixed trends during the second quarter of 2024, reflecting varying conditions across the sector.
Additionally, since the last Elders RPU, the key drivers of Australian rural property value have been influenced by factors such as livestock and grain prices, seasonal variability and farmer confidence. While commodity prices and terms of trade remain steady, seasonal conditions have been suboptimal in the south but more favorable in the north.
“The variability in both value and volume indicators across the country is largely due to differences in regional seasonal conditions. While the market has faced challenges, our view is that the short-term price trends are within the long-term range.” – Mark Barber, General Manager, Farmland Agency and Water.
As we progress through the year, fluctuations in seasonal conditions and commodity markets are likely to influence property values moving forward.
Read the full Quarter 2 2024 report.
Hungry for more? View previous Rural Property Update editions.
View previous editions here
