Good and bad news for Tas farmland prices

Tasmania’s 20,000ha-plus Rushy Lagoon is on the market.

If the goalposts are over here, Tasmanian farmland prices look impressive.

But if they are over there, it’s the opposite.

The 2025 Bendigo Bank Agribusiness Farmland Values Report has good news and bad news for the Apple Isle.

The good news is that Tasmania’s 2024 median price of $23,303 per hectare is sitting 200 per cent higher than it was 10 years ago when it was at $7718/ha.

That figure is far more expensive than every other state. Victoria was the next highest at $14,848.

Tassie also had the highest percentage of growth last year, with a 14.2 per cent uptick.

However, transaction volumes across Tasmania — only 131 last year — fell to sit at the lowest level in 30 years.

By comparison, transaction numbers decreased 72 per cent from 2007, when Tasmania recorded 473 sales.

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Per hectare median prices were buoyed by the North West at $27,019, and Northern region at $19,647, with the South lagging behind at $8260.

The total farmland area traded also fell, and sits 49 per cent below the five-year average.

The mixed results continued when looking at each region.

While there was 7.5 per cent value growth in the Northern region, and a 5.9 per cent dip in the North West, the South dropped by an eye-watering 53.4 per cent.

Logan at Evandale.

Bendigo Bank Agribusiness Tasmania’s Tony Anderson said a dry season challenged the Tasmanian farmland market last year.

He said while the median price increased again for the whole state, some regions experienced a decline in values as “buyers reacted to the conditions”.

“This was particularly the case in the South, where transaction volumes have halved since 2022, reacting strongly with a firm correction to prices, mainly from a shift to larger parcel sizes being sold,” he said.

“While there are excellent properties available on the market, buyers are holding out to see if conditions will improve, causing an increase to days on market for most property types.

“There is ongoing investment in the dairy industry in Tasmania, but many farmers are hoping livestock prices continue to recover to provide more confidence going forward in 2025.”