Victorian rural farm sales activity in decline
There were 29,833 residential houses and agricultural properties sold throughout regional Victoria over the year to November 2016, according to Landmark Harcourts’ latest Benchmark Report (bit.ly/LHBenchmark).
This is down 11.3 percent when compared to the same period last year, meaning there were 3,373 fewer sales over the year.
The total value of the 29,833 transactions was recorded at $11.3 billion, down 8.8 percent from $12.3 billion from November 2015.
The total number of residential house transactions across regional Victoria accounted for 73.5 percent of all transactions and 67.3 percent of the total value of sales over the year.
Regional Victoria recorded 7,898 agricultural property sales over the past year amounting to $3.7 billion worth of transactions.
This represents a 19.8 percent fall in sales volumes and a 17.5 percent fall in the total value of transactions.
Looking at the land size of the 7,898 agricultural sales, 78.8 percent were on lots less than 40 hectares, 12.2 percent were on lots between 40 and 100 hectares.
Some 8.8 percent were on 100-1,000 hectares and 0.2 percent of the sales were for lots greater than 1,000 hectares.
Of the $3.7 billion in agricultural sales over the year to November 2016, the total value of transactions was spread across various lot sizes with lots on less than 40 hectares accounting for 64.1 percent.
Meanwhile 15.0 percent were on lots ranging from 40 to 100 hectares, 18.5 percent on lots ranging between 100 to 1,000 hectares and 2.4 percent on lots greater than 1,000 hectares.
A mixed farming property at 695 Andrews Road, Kyabram South (above) has been sold recently on March for $400,000.
Similarly a rural property at 75 Davey Road, Springmount (below) was sold recently on March for $575,000.
A rural farm at 923 Burke and Wills Track, Benloch (below) has been listed for $679,000.
Similarly a rural farm at 90 Olsen Road, Nar Nar Goon North (below) has been listed for $595,000 plus.
