Western Australia: Australian Farmland Values 2017
About the report
The value of land underpins our farming businesses and rural communities. That’s why Rural Bank’s specialist insights division, Ag Answers, has again produced the Australian Farmland Values report for 2017.
Western Australian farmland values decrease in 2017
The median value per hectare of Western Australian farmland decreased by 6.5 per cent in 2017, following a 3.1 per cent increase in 2016.
The 2017 report reveals that while land values are flat over five and 10 years, since 1998, farmland has increased at a solid annual growth rate of five per cent.
The number of farmland transactions completed has also decreased across the state, as well as the area and value of those transactions. In total, throughout 2017, an estimated 677 farmland transactions took place across Western Australia in which approximately 483,000 million hectares changed hands for close to $788 million.
According to the new report, farmland values were driven up across three of the five regions of WA addressed in the report, with the Eastern WA region recording a more than 50 per cent increase year-on-year. However, values decreased markedly in the northern and southern regions of the state.
Visit the Australian Farmland Values page to view the national report.