A fall in land values coupled with a crash in livestock prices represent a golden opportunity for farmers to expand their holdings at a sharp discount to a year ago, but most are missing out because of “herd mentality” according to rural real estate veteran Col Medway.
has cooled demand for farmland, Mr Medway said there was an “immediate compelling opportunity to stock a newly purchased property at 30 per cent of the cost of last year”.“But the issue is that buyers are holding off because they think land values may continue to decline,” Mr Medway said.as the golden run of surging farmland values came to an end.
He believes lamb and beef markets have found a base while the BOM has already softened its outlook for a protracted El Niño, which “will be positive for both land and livestock markets”. “Now they are all standing back hesitant to act when the case to buy is at its most compelling. When everyone is running, it can be time to walk, but when everyone is walking, it can be time to run,” he said.