Australian Farmland Values - Rural Bank · Farmland values hold particular signifi cance when...
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2020 | Queensland Australian Farmland Values
Transcript of Australian Farmland Values - Rural Bank · Farmland values hold particular signifi cance when...
2020 | Queensland
AustralianFarmland Values
About the researchThe Australian Farmland Values report is based on actual farm
sales using data collected by the offi cial government agency in
each state and territory, which is then compiled by PriceFinder.
The Australian Farmland Values report is a guide to market
trends of commercial farming property. To that end, where
possible, transactions between family members or where one
party has compulsory powers are excluded from the analysis.
Further, small farms are also excluded to limit the impact of
‘lifestyle farming’ on the results.
As property settlement periods vary, some 2019 sales will not
be captured in this report at the time of publication. The median
price for the most recent year is preliminary and will be revised
at least annually.
The values used in this report are based on the total sale price
and therefore include the value of capital improvements. The
value of water entitlements attached to a land title and therefore
sold with the property will be refl ected in the sale price of the
land. If water entitlements are sold separately from the land, this
value will not be captured in the sale price.
Median prices in the report are only a guide to market activity.
They are not a valuation. Median is used rather than mean as the
median is not as readily distorted by unusually high or low prices.
However, the median does have limitations. The mix of property
sold in a given year can cause the median price to move up or
down in a way that is unrelated to a move in value. For example,
a higher proportion of lower-value sales can result in a lower
median and vice-versa. In areas where there have been very few
sales, this effect can be especially pronounced and so in these
cases the median should be used with caution and may not be
indicative of an actual change in farmland value.
In order to track median price per hectare growth over a range of
time periods the report uses compound annual growth rate (CAGR).
Compound annual growth rate is a geometric mean that accounts
for compound growth, providing a more accurate measure of an
investments return compared to a simple arithmetic mean.
Farmland sales volume is reported as the number of transactions.
Farms can be sold as single or multiple lots, which obscures the
view of the number of farms sold, particularly in cases where one
farm is sold as multiple lots to multiple buyers. Accordingly, the
number of ‘transactions’ should not be interpreted as the number
of farms sold and should only be used as a guide to market activity.
This report is not intended for use as a farm valuation tool.
A qualifi ed professional is required to assess the value of a
property.
For PriceFinder terms and conditions visit:
www.pricefi nder.com.au/terms-conditions/
About Rural BankRural Bank is a division of Bendigo and Adelaide Bank Limited
and provides exceptional fi nancial services, knowledge and
leadership for Australian farmers to grow.
Understanding the value of farmland is important to everyone in agribusiness, especially Australia’s farmers.
The Australian Farmland Values report tells the story of national and regional farmland performance over the past 25 years.
This report is intended to provide general information on a particular subject or subjects and is not an exhaustive treatment of such subject(s). The information herein is believed to be reliable and has been obtained from public sources believed to be reliable. Rural Bank, a Division of Bendigo and Adelaide Bank Limited, ABN 11 068 049 178 AFSL/Australian Credit Licence 237879, makes no representation as to or accepts any responsibility for the accuracy or completeness of information contained in this report. Any opinions, estimates and projections in this report do not necessarily refl ect the opinions of Rural Bank and are subject to change without notice. Rural Bank has no obligation to update, modify or amend this report or to otherwise notify a recipient thereof in the event that any opinion, forecast or estimate set forth therein, changes or subsequently becomes inaccurate. This report is provided for informational purposes only. The information contained in this report does not take into account your personal circumstances and should not be relied upon without consulting your legal, fi nancial, tax or other appropriate professional.
© Copyright Bendigo and Adelaide Bank Ltd ABN 11 068 049 178 (1452805 –1456141) (04/20)
Foreword
Agriculture is volatile, or so the mythology goes. You only hear
about agriculture when it’s booming or facing another challenge
or crisis.
Rural Bank’s Australian Farmland Values 2020 report turns
this myth on its head, particularly when you consider our world
is grappling with the COVID-19 pandemic, a challenge with
the potential to deliver the greatest uncertainty or unknown
economic impact since World War II.
Is agriculture immune or conditioned? History would tell you it is.
When you remove the noise, agriculture is stable, consistent and
an under-recognised source of economic growth. If you know
what you are doing and are prepared to see through short-term
vagaries and variations, there are rewards to be harvested.
On average, Australian farmland has delivered compound annual
growth of 7.5 per cent over 20 years.
It’s a remarkable result and it highlights that investing in farmland
over the long-term will deliver, through good times and bad.
We also know that farmland value is only one measure. It certainly
does not automatically translate to profi tability, or growth.
It’s the base asset for Australia’s farming businesses, with
unique characteristics, strengths and weaknesses. But in every
case, every parcel of land requires smart, capable farmers to
turn a profi t.
Land with consistent access to water has continued to
perform far better than land without. Climate risk and
reliable rainfall continues to drive investment.
Farmers are also holding on to their land, with year-on-year
transaction volumes falling by 13.2 per cent. What is driving this?
Are lower sales volumes driving up price, or are farmers simply
optimistic about the future?
There is certainly no shortage of buyers, happy to invest.
Corporates have continued to strongly enter the market,
particularly in New South Wales and Queensland.
As much of the eastern half of Australia emerges from dry
conditions and drought, will land continue to be held on to for
longer, and what are the implications for traditional farming
businesses?
These are all important questions, requiring discussion.
As always, Rural Bank is looking to contribute evidence and
insight to this conversation, advocating for the agricultural
industry.
In these unprecedented times, the evidence suggests that if you
look to agriculture and farmland, it continues to perform well over
the long-term – whatever the circumstances.
Alexandra Gartmann
CEO, Rural Bank
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Executive Summary
Farmland values have been resilient following several years
of challenging seasonal conditions. We expect growth in the
value of Australian farmland to continue over the long-term
as ongoing improvements in Australian agricultural productivity
and profi tability fuel strong demand for agricultural assets.
While factors such as strong commodity prices, a low interest
rate environment and tight supply of land support strong
demand for farmland in the short-term, this will be tempered
by disruptions to global economies. We expect farmland
values to continue to grow but at a reduced rate compared
to the growth seen in the past six years.
Across Australia the number of transactions declined
13.2 per cent year-on-year to 7,164. This marks the lowest
transaction volume for the analysed period (1995–2019).
The number of transactions equates to a total of 6.5 million
hectares of land with a combined value of $8.7 billion.
Farmland values hold particular signifi cance when examined
at a localised level. In 2020 Rural Bank has researched
trends in 29 regions across the country. The Australian
Farmland Values 2020 report draws on more than 262,000
transactions, accounting for 303.9 million hectares of land
with a combined value of $159 billion over 25 years.
Number of transactions (RHS)Median price $/ha (LHS)
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$6,000
$3,000
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Australia – historic performance
2019 year-on-year median price growth
2019 year-on-year transaction
volume growth
NSW 17.2% -19.8%
QLD -0.8% -7.8%
SA 18.4% -8.3%
TAS 11.1% -5.8%
VIC 12.1% -12.9%
WA 28.2% -4.6%
NT -53.9% -36.2%
National 13.5% -13.2%
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Median price per hectare
$4,6502019 median price growth
-0.8%Hectares of land traded
4,135,665Compound annual growth
over 20 years
7.7%
Queensland
West
-11.7%
Central
-9.9%
North
3.5%
South
14.5%
Map shows median price movement in 2019.
Queensland
From the fi eld
“Prolonged drought conditions led to a reduction in
transaction volume for the state, hitting an eight-year
low, this was largely driven by the Southern region.
There was a slightly higher percentage of low value
transactions compared to 2018, this was due to
increased activity at the lower end of the market in
Central, West and Northern Queensland. As a result,
the state median price per hectare eased. In contrast,
there were many examples of record prices at a local
level. Properties with exceptional improvements were
highly sort after in every region, driven by fewer listings
and strong underlying demand.”
Jonathon Hewitt, Rural Bank, Eastern Australia.
The median price per hectare of farmland in Queensland
decreased by 0.8 per cent in 2019 to $4,650 per hectare. This
was on the back of a 15.7 per cent increase in 2018. The state
maintains a solid fi ve-year average annual growth rate of 4.9 per
cent. Drought continued to put downward pressure on listings in
2019, particularly in the South, which is the region responsible
for most of the state’s transactions.
Demand remained strong for quality properties, despite a decline
in median price per hectare for the state. South Queensland
recorded the highest growth in median price per hectare of 14.5
per cent. This was followed by North Queensland with an increase
of 3.5 per cent. In both regions the increase in median price per
hectare was driven by more transactions at the high value end
of the market, refl ecting a solid level of buyer confi dence in each
region. In contrast, median price per hectare declined in the West
and Central regions, down 11.7 and 9.9 per cent respectively. This
was due to a change in transaction mix with a higher percentage
of low value transactions in 2019. In both regions there was more
appetite for larger parcels of land which characteristically sell for
a lower price per hectare. At a local level there was evidence of
record prices for such parcels, demonstrating that buyers were
willing to take the opportunity to purchase in a tightly held market.
The volume of transactions decreased to 1,586, 7.8 per cent
below 2018. This is the lowest level in eight years, refl ecting
the impact of prolonged drought. Seasonal conditions will play
a major role in transaction volume in 2020, if favourable, strong
underlying demand for properties could be met with more
listings. If dry conditions persist it will again be a case of buyers
competing for a limited number of properties, which will favour
better quality properties in each region.
Number of transactions (RHS)Median price $/ha (LHS)
$5,000
$3,500
$3,000
$4,500
$4,000
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Queensland – historic performance
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The area of farmland traded in 2019 across Queensland was
approximately 4.1 million hectares, a decrease of 5.9 per cent
compared to 2018. This was due to fewer transactions in the
South compared to 2018.
The total value of Queensland farmland traded in 2019 was
approximately $2.5 billion, an increase of 2.9 per cent. This was
driven by a shift in transaction mix towards the upper end of the
market, a trend that was evident in most regions of the state.
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2019
2018
Queensland – transactions by price range
There was a higher percentage of low value transactions in
2019, and a decrease in transaction volume across medium value
price ranges, resulting in a 0.8 per cent decline in median price
per hectare for the state. The $6,000–8,000/ha range had the
largest decline in transaction volume, down 27.2 per cent, this
equates to a decrease of 61 transactions. In total there were
144 fewer transactions between $4,000/ha and $10,000/ha.
In contrast the higher end of the market reported a 13.9 per cent
increase in transaction volume, partly offsetting the decline in
other price ranges.
There were fewer transactions across three of the four regions
of Queensland in 2019, with a notable decline in medium
value transactions, which is refl ected in the state result. South
Queensland reported a 14.8 per cent decline in transaction
volume, predominately in the medium value range. West and
Central Queensland followed a similar pattern with a decline in
transaction volume of 7.7 per cent and 3.8 per cent respectively.
In contrast transaction volume increased 2.2 per cent in North
Queensland, driven by increased transaction volumes at both
ends of the market.
Growth in the median price per hectare was highest for small
parcel sizes. The 30–50ha range recorded an increase of 16.5
per cent in 2019, this range also had the highest ten-year average
annual growth rate. In contrast median price per hectare declined
slightly in the 150–400ha and greater than 400ha ranges.
There were fewer transactions across all parcel sizes in 2019.
The 30–50ha range experienced the largest decline. The mix
of transactions by parcel size remained relatively unchanged,
the 50–150ha range made up a slightly higher percentage of
transactions in 2019.
Performance by land size
Parcel size (ha)
Median $/ha No. of transactions
2019 % change 10yr CAGR Decile 2019 YoY +/-
30–50 $10,665 16.5% 3.2% 10.0 303 -42
50–150 $6,728 7.9% 3.0% 10.0 631 -44
150–400 $3,459 -3.1% 2.8% 9.6 250 -26
400+ $1,001 -0.2% 0.4% 9.6 402 -23
Overall $4,650 -0.8% 2.1% 9.6 1,586 -135
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CentralQLD
The median price per hectare of farmland in Central Queensland decreased by 9.9 per cent in
2019 to $2,712 per hectare. This follows an increase of 28.2 per cent in 2018. The decline
in 2019 is largely down to a change in transaction mix as opposed to a decline in demand.
Demand remained strong for properties that did list and there were examples of record prices
at municipality level.
Median price per hectare declined in Gladstone, Goondiwindi and Western Downs. In contrast
there was an increase in the municipalities of Central Highlands, Isaac and Livingstone.
The volume of transactions decreased to 475, 3.8 per cent below 2018. The decline in
transaction volume was most evident for smaller parcel sizes. In contrast larger parcels sold at
a similar level to the year prior, highlighting a good level of buying activity from corporates and
large family farms.
Number of transactions (RHS)Median price $/ha (LHS)
$3,500
$3,000
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Central – historic performance
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From the fi eld
“The performance of rural property sales across Central and Central West
Queensland was mixed in 2019, infl uenced by a decline in sales volume. There
were examples of properties with good quality improvements achieving record
values in several districts. The Central Highlands and Isaac sub regions continued
to perform strongly. Family farms and corporates were active in the market, keeping
demand high.”
Linda Paterson, Rural Bank, Rockhampton.
2019 median price growth
-9.9%
Hectares of land traded
491,204
Compound annual growth
over 20 years
6.9%
Median price per hectare
$2,712
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The volume of transactions decreased most in the high price range in 2019, this changed the transaction mix towards a higher
percentage of low value transactions. As a result, the median price per hectare for the region moved lower. The decline in transaction
volume was highest in the greater than $5,000/ha range with a decrease of 23 per cent. This equates to 32 fewer transactions, over
half of these were in the Western Downs municipality.
The municipalities of Banana, Central Highlands and Western Downs all experienced a notable decline in transaction volume in 2019.
In contrast there were more transactions in Gladstone and Isaac.
There were fewer transactions across most parcel sizes in 2019. The 30–100ha range experienced the largest decline, this was a key
contributor to the overall decline in median price per hectare for the region due to the relatively high price per hectare these parcels
attract. In contrast, there was a small increase in large parcel transactions. Median price per hectare decreased across most parcel sizes.
The largest decrease was in the 300–600ha range. In contrast, demand was strong for larger parcels greater than 600ha. Over the
long-term larger parcel sizes greater than 600ha returned the highest average annual growth rate.
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Central – transactions by price range
Performance by land size
Parcel size (ha)
Median $/ha No. of transactions
2019 % change 10yr CAGR Decile 2019 YoY +/-
30–100 $5,009 -3.2% 2.0% 9.6 132 -18
100–300 $3,210 -10.6% 2.5% 9.6 135 -3
300–600 $2,239 -12.9% 2.7% 9.6 69 1
600+ $1,824 5.3% 4.7% 10.0 139 1
Overall $2,712 -9.9% 2.7% 8.9 475 -19
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NorthQLD
The median price per hectare of farmland in North Queensland increased by 3.5 per cent in
2019 to $8,947 per hectare. This follows a decline of 0.5 per cent in 2018. Demand remained
high for grazing and horticulture land, particularly on the Cassowary Coast, which aided median
price per hectare growth.
Median price per hectare increased notably in the Cassowary Coast and Tablelands
municipalities. In contrast there was a decrease in Douglas and Charters Towers.
The volume of transactions increased to 325, 2.2 per cent above 2018. This was driven by
an increase in the number of larger parcels of land transacting in the grazing regions of the
Cassowary Coast and Townsville municipalities.
Number of transactions (RHS)Median price $/ha (LHS)
$10,000
$7,000
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North – historic performance
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From the fi eld
“Demand for grazing and horticulture properties remained strong in 2019 particularly
in the Cassowary Coast area. New to market buyers were actively purchasing both
sugar cane and banana properties. In contrast there was a decline in sales activity in
Charters Towers due to drought and impacts to properties caused by major fl ooding
early in 2019. Avocado properties transacted less in 2019 with demand easing back
to long term trends.”
Simon Gilbert, Rural Bank, Innisfail.
2019 median price growth
3.5%
Hectares of land traded
676,546
Compound annual growth
over 20 years
7.2%
Median price per hectare
$8,947
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Performance by land size
Parcel size (ha)
Median $/ha No. of transactions
2019 % change 10yr CAGR Decile 2019 YoY +/-
30–50 $12,182 -3.6% 1.3% 9.6 93 6
50–100 $10,013 8.6% 1.1% 10.0 114 -17
100–200 $6,417 -8.8% 0.5% 8.3 57 11
200+ $1,676 37.7% -0.3% 7.4 61 7
Overall $8,947 3.5% 0.7% 10.0 325 7
Demand was strong at both ends of the market; however, the volume of transactions decreased most in the medium price ranges in
2019. This changed the transaction mix towards a greater percentage of high value transactions compared to 2018, leading to an
increase in the median price per hectare. The decline in transaction volume was highest in the $6,000–9,000/ha range with a decrease
of 25 per cent. this equates to 16 fewer transactions, most of the decline was in the Tablelands municipality.
The municipalities of Burdekin, Cairns, Charters Towers, Hinchinbrook and Mareeba all experienced a notable decline in transaction
volume in 2019. In contrast there were more transactions in the municipalities of Cassowary Coast, Townsville and Whitsunday.
There were more transactions across most parcel sizes in 2019. The 100–200ha range experienced the largest increase. In contrast
the 50–100ha range declined. Median price per hectare growth was mixed. The highest increase was in the greater than 200ha range,
highlighting demand for grazing properties in the region. Over the long-term the 30–50ha range returned the highest average annual
growth rate.
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North – transactions by price range
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SouthQLD
The median price per hectare of farmland in South Queensland increased by 14.5 per cent
in 2019 to $7,268 per hectare. This follows an increase of fi ve per cent in 2018. Despite dry
conditions demand remained strong for quality properties in each municipality, buyers were
willing to look past seasonal conditions to secure tightly held parcels of land.
Median price per hectare increased notably for the Sunshine Coast and Gympie municipalities.
In contrast there was a decrease in Somerset and the Lockyer Valley.
The volume of transactions decreased to 631 transactions, 14.8 per cent below 2018.
Drought was the key contributor to fewer transactions in 2019, limiting the number of listings
in the region.
Number of transactions (RHS)Median price $/ha (LHS)
$8,000
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South – historic performance
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From the fi eld
“Widespread drought across the region was the major underlying factor resulting in
a decrease in transaction activity in 2019. Despite a decline in activity land values
continued to increase in most municipalities refl ecting strong underlying demand.
Looking forward to 2020, changes to water allocations are expected to slow buyer
activity in the Wide Bay Burnett region, whilst confi dence in the grazing sector as a
result of recent rainfall could bring some properties to market.”
Baden Lowrie, Elders, Bundaberg.
2019 median price growth
14.5%
Hectares of land traded
85,365
Compound annual growth
over 20 years
7.8%
Median price per hectare
$7,268
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Volume increased at the top end of the market in 2019 however, this was offset by a signifi cant fall in the low to medium price ranges.
As a result of a higher proportion of high value transactions, median price per hectare grew strongly. Transaction volume increased
30 per cent in the greater than $12,500/ha range. This equates to an increase of 32 transactions, Gympie accounted for most of the
increase. The decline in transaction volume was highest in the $2,500–5,000/ha range with a decrease of 28 per cent. This equates to
47 fewer low value transactions, Toowoomba accounted for most of the decline.
The municipalities of Bundaberg, South Burnett, Southern Downs and Sunshine Coast all experienced a notable decline in transaction
volume in 2019. In contrast there were more transactions on the Fraser Coast and in Gympie.
There was a decline in transactions across all parcel sizes in 2019. The greater than 200ha range experienced the largest decrease which
aided median price growth in the region as this segment is characterized by lower value transactions. Median price per hectare increased
strongly across all ranges, refl ecting demand for quality properties of any size. The highest increase was in the 100–200ha range. Over the
long-term the greater than 200ha range returned the highest average annual growth rate.
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South – transactions by price range
Performance by land size
Parcel size (ha)
Median $/ha No. of transactions
2019 % change 10yr CAGR Decile 2019 YoY +/-
30–50 $11,280 17.3% 3.5% 10.0 152 -43
50–100 $7,198 2.4% 2.6% 10.0 231 -9
100–200 $5,410 21.4% 4.3% 10.0 151 -14
200+ $3,310 19.7% 5.0% 10.0 97 -44
Overall $7,268 14.5% 4.3% 10.0 631 -110
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QLD
The median price per hectare of farmland in West Queensland decreased by 11.7 per cent in
2019 to $317 per hectare. This follows an increase of 27.2 per cent in 2018. The decline in
2019 was largely due to a change in transaction mix as opposed to a decline in demand. There
was a higher proportion of large parcels of land transacted in 2019, which characteristically sell
for a lower price per hectare.
Median price per hectare increased notably for the Maranoa and Longreach municipalities.
In contrast there was a decrease in Winton and Flinders.
The volume of transactions decreased to 155, 7.7 per cent below 2018. This was driven by
prolonged drought in the region, leading to fewer listings in 2019.
Number of transactions (RHS)Median price $/ha (LHS)
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West – historic performance
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From the fi eld
“Transaction volume declined due to drought leading to a reduction in listings in
2019. Despite lower volumes, there was evidence of solid demand at municipality
level, indicating an increased number of buyers in the region. Looking forward, rain
in early 2020 could lead to more listings which will help satisfy demand, particularly
for grazing properties with exceptional improvements. The long-term growth
prospect of farmland in the region is likely to attract the interest of investors looking
to divest from traditional asset classes.”
Malcolm Hosking, Rural Bank, West QLD.
2019 median price growth
-11.7%
Hectares of land traded
2,882,554
Compound annual growth
over 20 years
8.0%
Median price per hectare
$317
West
16
Demand was strong at both ends of the market; however, the volume of transactions decreased most in the medium price ranges in
2019. This changed the transaction mix towards a higher percentage of lower value transactions, leading to a decrease in the median
price per hectare. The decline in transaction volume was highest in the $450–1,000/ha range with a decrease of 40 per cent. This
equates to 14 fewer transactions, Maranoa accounted for most of the decline in this range. In contrast, the increase in transactions in the
$0–150/ha range was driven by activity in Barcoo, Longreach, Richmond and Winton. As a result, these municipalities made up a higher
proportion of the total volume of transactions in 2019.
The municipalities of Blackall Tambo, Flinders, Maranoa, Murweh and Paroo all experienced a notable decline in transaction volume in
2019. In contrast there were more transactions in the municipalities of Barcoo, Longreach, Richmond and Winton.
There was a decline in transactions across most parcel sizes in 2019. The 30–2,500ha range experienced the largest decrease. In contrast
transaction volume increased in the greater than 12,500ha range. Median price per hectare increased across most parcel sizes. The
highest increase was in the 2,500–7,500ha range. In contrast median price per hectare declined in the greater than 12,500ha range.
Overall median price per hectare declined due to more transactions in the lower valued, large parcel size range.
50
0
40
30
20
10
$0 – 150/ha
Nu
mb
er
of
tran
sact
ion
s
$150 – 300/ha $300 – 450/ha $450 – 1,000/ha $1,000 –1,500/ha $1,500/ha+
2019
2018
West – transactions by price range
Performance by land size
Parcel size (ha)
Median $/ha No. of transactions
2019 % change 10yr CAGR Decile 2019 YoY +/-
30–2,500 $1,853 33.9% 5.6% 10.0 34 -11
2,500–7,500 $551 54.5% 3.5% 10.0 27 -8
7,500–12,500 $300 4.4% 2.3% 9.6 29 -8
12,500+ $171 -18.0% 4.3% 9.6 65 14
Overall $317 -11.7% 0.5% 8.3 155 -13
17
Farmland sales by municipality
MunicipalityMedian $/ha Number of transactions
2019 5yr CAGR 10yr CAGR 20yr CAGR 2019 YoY +/-
Central
Banana $3,695 8.3% 2.6% 7.6% 44 -7
Central Highlands Regional $2,762 13.4% 3.8% 10.0% 33 -4
Gladstone Regional $2,936 -0.4% 1.3% 5.9% 57 11
Goondiwindi Regional $2,038 11.2% 7.0% 9.6% 53 3
Isaac Regional $2,188 6.6% 8.6% 7.8% 28 11
Livingstone $5,001 3.1% 3.1% – 26 0
North Burnett Regional $2,992 3.8% 4.0% 6.9% 78 -7
Rockhampton Regional $4,300 1.8% 1.6% 6.3% 29 -3
Western Downs Regional $2,469 4.5% 0.6% 7.0% 127 -23
Central $2,712 4.5% 2.7% 6.9% 475 -19
North
Burdekin $15,328 9.2% 1.2% 8.1% 24 -3
Cairns Regional $9,958 7.2% 2.3% 6.4% 7 -2
Cassowary Coast Regional $10,160 9.8% 1.1% 2.3% 40 16
Charters Towers Regional $955 33.3% -12.1% 2.1% 22 -4
Cook $2,584 -5.6% 7.7% 16.8% 6 0
Croydon – 9.3% -4.5% 7.1% 2 1
Douglas – – -35.6% – 1 -5
Etheridge $375 37.0% 14.2% 15.0% 6 2
Hinchinbrook $8,964 6.4% 1.6% 1.6% 12 -9
Mackay Regional $9,314 7.5% 1.6% 7.3% 80 6
Mareeba $8,467 0.2% 0.2% – 28 -5
Tablelands Regional $12,904 15.8% 3.8% 8.4% 49 0
Townsville City $10,488 11.2% 1.3% 7.6% 19 4
Whitsunday Regional $5,954 10.1% 10.4% 7.3% 29 6
North $8,947 8.3% 0.7% 7.2% 325 7
South
Bundaberg Regional $6,094 11.4% 3.7% 9.2% 64 -13
Fraser Coast Regional $6,862 17.0% 12.9% 10.6% 40 5
Gympie Regional $7,334 6.2% 3.8% 8.1% 73 3
Lockyer Valley Regional $7,323 1.6% -1.1% 6.7% 29 -8
Moreton Bay Regional $12,986 1.5% 1.1% 3.8% 18 0
Scenic Rim Regional $13,382 8.7% 4.2% 8.5% 50 0
Somerset Regional $5,616 -1.8% -2.3% 5.6% 46 0
South Burnett Regional $5,524 5.2% 5.0% 7.1% 74 -38
Southern Downs Regional $6,192 5.1% 4.4% 7.9% 70 -26
Sunshine Coast Regional $24,350 15.6% 7.5% 9.2% 19 -14
Toowoomba Regional $7,384 8.5% 4.4% 7.7% 148 -19
South $7,268 6.0% 4.3% 7.8% 631 -110
QLD
18
MunicipalityMedian $/ha Number of transactions
2019 5yr CAGR 10yr CAGR 20yr CAGR 2019 YoY +/-
West
Balonne $1,492 20.2% 15.3% 13.5% 11 -3
Barcaldine Regional $317 -0.2% 2.8% 11.8% 9 -2
Barcoo $112 20.4% 8.6% 7.7% 9 9
Blackall Tambo Regional $505 7.5% 0.7% 8.6% 6 -5
Boulia – 17.7% 15.3% 5.2% 1 1
Bulloo – 2.0% -2.9% 8.9% 1 0
Carpentaria Shire – 29.6% 5.4% 8.6% 1 1
Flinders $229 2.3% -4.4% 7.1% 5 -9
Longreach Regional $271 16.0% 2.7% 8.2% 22 10
Maranoa Regional $1,776 7.2% 6.2% 10.2% 33 -16
Mckinlay* $370 7.7% 8.2% 9.4% 7 0
Murweh $301 11.2% 1.6% 8.2% 13 -5
Paroo $182 28.5% 4.9% 11.1% 9 -6
Quilpie – 0.9% 12.0% 10.7% 3 0
Richmond $337 7.2% 2.0% 8.4% 8 5
Winton $113 -7.2% -2.1% 4.1% 17 7
West $317 -0.5% 0.5% 8.0% 155 -13
Queensland $4,650 4.9% 2.1% 7.7% 1,586 -135
CAGR: Compound Annual Growth Rate
Price information with a small volume of transactions should be used with caution. The median price for municipalities with less than four transactions in 2019 is not reported.
*Municipalities with no transactions in 2019 have compound annual growth rate for fi ve, ten and twenty years presented using the 2018 median.
19
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