Welcome to the latest edition of the Elders Rural Property Update.
The Australian rural property market cooled a little during the first quarter of 2024, consolidating the strong gains witnessed in recent years.
The market has been underpinned by good quality commercial and corporate sized transactions which have sold well to strong inquiry. Activity at the other end of the market has been more subdued with a greater proportion of deals subject to debt funding coming under increased scrutiny by financiers and attracting subdued buyer inquiry.
As we move into the winter season, improved seasonal conditions and stronger commodity markets are likely to see values return to long term trends.
Indications from the Elders team in southern areas are that property prices are starting to strengthen as farm incomes improve and on forecasts of a normal or better spring.
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