Farm Sales

Farm sales are at a record low as rural properties flood the market.

Figures show there were just over 200 farms sold in the three months to February. That is only 5% of farms on the market. In comparison, two years ago over 700 farms were sold in the same period, equalling 20% of the market.

The median farm price has also dropped in the last two years. It is now just over $1 million – a far cry from the $1.75 million recorded in 2008.

It has meant farmers have lost equity and the banks’ confidence.

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