NSW North Coast experiencing more rainfall than out West, but still struggling with drought
The past 12 months have been challenging for the NSW North Coast with a reduction in rainfall, however it is not as severe as in more western areas, according to property valuation firm Herron Todd White (HTW).
The valuation firm found that water licences, and properties with the capacity to utilise these water licences, are becoming much more sought after.
This is particularly so for intensive horticultural crops, nurseries, tea tree farms and some of the animal industries.
The horticultural buyers typically prefer well drained red basalt soils or well drained sandy loams.
The reported noted avocado farmers prefer well drained, frost free land with access to water.
Blueberry farmers seek similar land features except for preferring a slightly acidic soil.
Macadamia farmers are not as concerned with supplementary irrigation, but frost free land is a definite preference.
Graziers were disposed towards a balance of flood free land, however creek and river flats were found to be always in demand.
Commodity prices and the current low interest rates are typical drivers of rural land value.
The North Coast has strong lifestyle appeal which impacts in the various locations, HTW noted.
The report noted the high macadamia nut prices compared to low sugar prices, which results in macadamia farmers purchasing sugar cane farms to plant macadamias - an example of the impact of commodity prices in the region.
