Decade high for country property

AUSTRALIA’S rural property sector is at its strongest for a decade, according to JLL’s agribusiness team.

JLL director agribusiness Chris Holgar said more than $110m in sales had been secured in the first quarter of 2021 and $50m worth of assets were under contract.

“Australian agribusiness continues to assert its position as a secure and stable asset class,” he said. “The market is the strongest it has been in 10 years and sales activity is not predicted to slow as family, private, institutional and nontraditional buyers look to the rural sector for investment longevity and stability.”

JLL Research shows that the value of Queensland’s agriculture, fisheries and forestry sector has stayed strong despite the COVID-19 disruption and drought in 2020.

Recent rainfall across the state, due to a La Nina event, has boosted the sentiment of Queensland and North Australian producers in 2021.

Queensland’s Brigalow Belt in particular, from Central Queensland to Roma, was in high demand.