The price of Border and North East farming land has grown by up to eight per cent over the past five years.
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Northern Victoria recorded an average annual median price growth of 7.8 per cent over that period, according to Rural Bank’s third annual Australian Farmland Values report.
In Southern NSW, the figure was 6.9 per cent.
Rural Bank managing director and chief executive Alexandra Gartmann said the 2017 report reinforced the importance of taking a long-term view.
“Volatile climate and market conditions characterise farming across the country and as a result, it is inevitable these, alongside many other factors, will contribute to fluctuations in farmland values,” she said.
The report tracks the median price of commercial farmland per hectare based on data collected over a 23-year period, drawing on 239,000 transactions.
