Page 22 - Queensland Country Life Spring Property Guide

22 SPECIAL PUBLICATION Thursday September 30, 2021 .
NEWS

RISE: Good weather conditions and strong demand for HIGHER CALLING: Churches in rural towns are selling PARADISE SOUGHT: High commodity prices, cheap
agricultural exports have seen rural property values because of declining congregations and interest from finance and good seasons are combining to force up
surge. tree changers. prices for scarce farm land.

DEMAND: Farmland is being squeezed by the flood of residents moving from the cities to the country.
Farm fortunes rebounding

AS TEMPTING as it may be July 2021 in the region, as farms, as well as growth in off a low base, with the me- increased values in towns as-
to lay the blame for sky high well as in outback Queens- regional towns," Ms Conis- dian price in Merredin now sociated with that industry.
regional property prices land, based on CoreLogic bee said. sitting at $149,000. Prices were still short of
squarely at the feet of sea and data for residential proper- Demand from farm work- "Look at the median pric- theirpreviouspeak,achieved
tree changers, there's anoth- ties and only including mar- ers moving to the area was es - they're sitting at around around 2012, but were head-
er key reason for the recent kets with 30 sales or more. behind part of the rise, but $200,000, if you have a look ed in that direction.
spike in values, according to Vastly improved agricul- the bigger factor was more at it in dollar terms you're "Everything to do with
a leading economist. tural conditions led to a 62pc likely a general boost to local not looking at Byron Bay," mining right now, it's hard
Towns in Western rise in residential property residents' buying power as Ms Conisbee said. to find bad news highly likely
Australia's wheatbelt are prices in Merredin, Western economies improve. "The WA Wheatbelt was we will get back to that level."
posting growth rates as high Australia and a 47pc rise in "I think fundamentally it's one of the lowest growth re- In less remote parts of the
as 62 per cent per annum, Blackall in Queensland. just wealth - we've got people gion in the country prior to country where mining has
higherthanthatofByronBay, The end of drought con- making a lot more money [in the pandemic," she added. traditionally played a large
according to Ray White chief ditions in many parts of these towns] and that flows Price growth would likely role in the housing economy,
economist Nerida Conis- the country and sustained Farm demand. into the community, result- taper in the next 12 months, the impact of recent com-
bee, and it's not because of demand for Australian prod- ing in more investment, and according to Ms Conisbee. modity rises was less clear.
cashed-up city buyers. ucts, particularly wheat and $66.3 billion this year, ac- that pushes up values," she It's not just the agricultural Most say farm fortunes
She has compiled a list of beef, meant that Australia's cording to Ms Conisbee. said. sector driving gains, with still remain strongly linked
the strongest towns for price agricultural production "For property, this is flow- Prices may be growing improved demand for min- to the weather, good seasons
growth in the 12 months to would hit a record high of ing on to strong prices for fast, but they're still coming ing commodities leading to then good prices.