General News
27 May, 2025
Wimmera tops average
In a property report released today by the Australian Property Institute, the Wimmera has taken top spot for farm property prices with an average increase of 802 per cent over the last 20 years.
The report shows that agriculture values have risen an average of 12.8 per cent over the last 20 years compared to housing (154 per cent), industrial property (164 per cent) and commercial property (143 per cent).
According to the Australian Bureau of Agriculture and Resource Economics and Science (ABARES), broadacre farm values in the Wimmera rose 133.7 per cent from 2019 to 2023, increasing from $4567/hectare in 2019 to $10,671/hectare in 2023.
Underpinned by renewable energy projects, the Wimmera has historically been dependent on grain and sheep industries and has experienced a growth of 352 per cent in the last 10 years since 2023 and 1418.8 per cent since 1994.
Until recently, farming has been powered by high commodity prices, favourable weather conditions and interest rates.
Despite these statistics, AWN Livestock and Property Wimmera area manager Wayne Driscoll said in current times the market has "dried up".
“It’s completely stopped now,” he said.
"It's not what it used to be."
Mr Driscoll said 14 months ago, around spring and autumn, it was at its peak.
“Availability has gone down and demand is flat,” he said.
He said the lack of money has played a major part in the sudden standstill of the market.
"There are no properties listed and no one wants to buy," Mr Driscoll said.
"At the moment, it's very drought-driven and no one is prepared to put their property on the market."
Elders Real Estate Horsham branch manager Mathew Taylor agreed that the farm property market has come to a halt.
"I'd say over the last 12 to 18 months," he said.
"During Covid, we had low interest rates, so farmers were borrowing up to the $20,000 mark.
"But now they're borrowing even less."
Harcourts Horsham director Mark Clyne said the farm property market is determined by interest rates and weather conditions.
"At the moment, there's not a lot for sale and it's quieter than usual," he said.
Mr Clyne said the market is currently "trending sideways" for cropping land with demand still around.
"The grazing sector has decreased around 20 to 30 per cent," he said.
"If we can get half the season back on track, then we can expect it to go back."
