Drier conditions are being overlooked by land purchasers who are taking a longer term view, according to leading Victorian real estate agents.
They said low interest rates, a falling dollar and free trade agreements with Asian trading partners had offset the poor seasonal conditions.
Charles Stewart Western Victoria’s Nick Adamson said there had been increasing inquiries for all enterprises, particularly dairy and grazing.
“I think there is confidence, going forward, with low interest rates and the outlook into China and the free trade agreements,” Mr Adamson said.
“I know this year’s milk prices are not breaking any records but people are taking a long term view. People are realising we are entering a golden era of agriculture, in Australia.”
He said while crop yields were going to be down, and dairy farmers might have to buy in more feed, it was felt the seasonal conditions were only temporary.
“Livestock operators are not wanting to quit stock, but wanting to buy assured rainfall country,” Mr Adamson said.
Charles Stewart was currently offering “Victoria Park” dairy farm, situated in 850ml rainfall country, nine kilometres south Heywood.
“It’s a generational dairy farm with a focus on high milk production from a year round grass growing platform,” Mr Adamson said.
Collier’s agribusiness and rural division head Shane McIntyre said September through to November was the traditional peak selling period, for rural properties.
“This year is very similar to most other years, where the bulk of properties are offered at a time when they present themselves in the best condition, to allow purchasers to make assessments on productivity, versatility and suitability for their needs,” Mr McIntyre said.
“The buying market has been presented with one of the most favorable selling periods, in rural property, for decades.”
He said while cropping prospects had been dampened by a short spring, prices remained outstanding for beef and lamb.
Colliers have recently listed Kilcoolin, Euroa, a 2898ha breeding and fattening property and Chatsworth House, Chatsworth, a cropping and grazing property, in the heart of the Western District
Elders Western Victoria real estate manager Rob Rickard said interest was coming in, from far and wide.
“Commodity prices are very good and I have sold a number of dairy farms, over the last four weeks,” Mr Rickard said. The sales had been to families, seeking to expand their operations, including to those from outside the district.
