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Benchmark April18

Welcome With the number of rural transactions lower in every state, it’s clear the market is in a different phase than what we saw 12 months ago. In terms of residential transaction numbers, most states saw a marked increase in sales and a modest increase in value. Queensland and Western Australia were the exception, with the median residential price in both states softening compared to the same time 12 months ago. The rural property market requires a closer look. While the increasingly strong Australian dollar is certainly impacting our exports, the overall values for agricultural goods has risen significantly across the four major categories over the past year. Meat and meat preparations, which make up around a quarter of all rural exports, rose by 6.9% while our second largest export category, cereals, rose by almost 20% to reach $9.2 billion. It’s no surprise then that many primary producers are choosing to hold on to their property, enjoying significantly increased returns and watching the value of rural land in most regions continue to grow. It’s clear that demand is still outstripping supply when it comes to rural property in Australia. The rural market dynamic is undergoing changes and auction and sale records are being broken across the country. Although there has been a fall in the total value of rural sales, the value of individual rural property has actually increased – evidenced by the increase in median prices in most states. I encourage you all to look at the detailed breakdown of sales available in each state – they’re broken down into both region and land size categories. Even if you aren’t considering selling, you may be interested to learn what property in your part of the country is worth. I hope you enjoy this edition of Benchmark. Mark Brooke General Manager Landmark Harcourts M: 0419 301 814 E: mark.brooke@landmarkharcourts.com.au


Benchmark April18
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