Elders Estates. VIC
VICTORIA
Victoria & Riverina Market Update MATT HORNE REAL ESTATE MANAGER DENILIQUIN The Victorian and Riverina property markets have continued to gain momentum throughout the summer and autumn selling seasons with some exceptional results achieved. Demand is being driven by historically low interest rates, a favourable Australian dollar, strong commodity prices in lamb, beef, dairy and cropping. This coupled with an improvement in water allocations in particular the NSW Murray and Murrumbidgee Valleys and significant summer and early autumn rains in the south west and south eastern parts of Victoria, have instilled confidence in producers. Interest remains widespread across most product sectors with a vast range of buyers including local producers, private wealth and corporate investors all keen to invest in safe, reliable and asset appreciating agricultural and horticultural farmland. With new listings continuing to come to the market, particularly in the southern regions of the state, we envisage buyer interest will continue at a similar level as we lead into the winter. It is an exciting time within the agricultural industry with many sons and daughters returning to the land with the intentions of
4
eldersrealestate.com.au
expanding the family operation, often with new and innovative ideas. With the advancement in technology across many sectors, we are experiencing a general increase in production levels which is creating additional capital for equipment and land acquisitions. Currently in the Riverina, headers are in the fields harvesting rice and corn crops whilst the cotton harvest continues. Despite a mild summer, early harvest reports are suggesting above average yields which will come as a relief to producers. The winter sowing season is well underway with most farmers having completed their canola and legume sowing programmes and now moving onto wheat and barley. In closing, we wish you and your families a safe and prosperous 2021, may the rain fall and the sun shine. Matt Horne Real Estate Manager & Water Broker Elders Deniliquin
