INTEREST in the rural property market has picked up, according to leading real estate agents.
Pat Rice and Hawkins agent Peter Hawkins said the "severe drought problems which severely affected the market have now dramatically changed with the strong drought-breaking and confidence-building rainfall patterns in most districts of south-eastern Australia".
"This turnaround in the rural industry environment has led to increased demand from farmers, often of a younger generation, or neighbours looking for additional properties where they can expand their investment, utilise existing resources of plant and equipment efficiently and reap the benefits from the improved prices for their production," Mr Rice said.
Colliers International also reported an increase in inquiry, with executive Jesse Manuel saying there had been an increase in off-market transactions, "despite the lack of agricultural property being advertised".
He said Colliers had completed more transactions to date than for the whole of last year.
