Skip to main content Skip to main navigation Skip to search
ABARES

Top navigation abares

  • Department
  • Ministers
  • Media Centre
Main menu

Main navigation ABARES

  • ABARES Home
    ABARES Home
  • About
    About
  • Research topics
    Research topics
  • Products
    Products
  • Data
    Data
  • News
    News
  • Conferences and events
    Conferences and events
  • Careers
    Careers
Department of Agriculture

Breadcrumb

  1. DAFF Home
  2. ABARES
  3. Data
  4. ABARES Farmland Price Index

Secondary ABARES

  • Data
    • ABARES Farmland Price Index
    • About my region
    • Trade data dashboard
    • Australian Agricultural Census 2020–21 visualisations
    • Farm Data Portal - Beta
    • Improving agricultural statistics
      • Roadmap
      • Stakeholder engagement
    • Infographics and maps
    • Weekly commodity price update
      • World agricultural prices
      • Australian agricultural prices
      • Australian horticulture prices
    • Web mapping services and applications

ABARES Farmland Price Index

ABARES’ new Farmland Price Index provides the latest estimates for Australian broadacre farmland prices through an innovative and simple to operate dashboard.

Users can:

  • gain valuable insights into market trends
  • access reliable information on the value of their farmland assets
  • track annual changes over time
  • make price comparisons between farming zones
  • download data for their own analysis

The Index utilises a robust and effective ABARES-developed method - ensuring accurate and reflective estimates - so that farm business can confidently use it to help inform decisions about their farmland assets.

How do we generate these estimates?

We employ a stratification method that leverages the CoreLogic land transaction data, which serves as the foundation for our calculations. By incorporating the ABARES farm survey data, we weight the strata to align the estimates with the true value of the overall farmland population.

This approach allows us to account for variability and volatility in farmland transactions and avoid relying solely on individual parcel sales.

Why is this information important?

Farmland holds immense economic and ecological significance in the Australian context. For most farm businesses, land represents their most valuable asset, and understanding its price is crucial for securing lending and expanding their operations.

Moreover, the value of farmland plays a pivotal role in the financial portfolios and overall well-being of Australian farmers (Chancellor and Zhao 2020). In addition, considering that over half of Australia's land mass is dedicated to agriculture, comprehending the changing value of farmland has profound policy implications for land use.

ABARES Farmland Price Dashboard

Source: ABARES

This Power BI dashboard may not meet accessibility requirements. For information about the contents of these dashboards contact ABARES.

Key findings

  • Farmland in Australia has generally experienced strong growth over the period of observation, accelerating in recent years.
  • In 2023, the average price per hectare of broadacre farmland increased by 195% over the 10 years to 2023 (from $1,592 to $4,689 per hectare).
  • Farmland price growth differed between ABARES zones, with the high rainfall zone experiencing the fastest rate of average annual growth over the last 10 years (12.9%), followed by the wheat-sheep zone (8.6%), followed by the pastoral zone (8.2%).

Download the reports and datasets

Measuring Australian broadacre farmland price: A stratification approach

Supporting data - Measuring Australian broadacre farmland price - A stratification approach – MS Excel [181 KB]

Thanks for your feedback.
Thanks! Your feedback has been submitted.

We aren't able to respond to your individual comments or questions.
To contact us directly phone us or submit an online inquiry

CAPTCHA
This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.

Please verify that you are not a robot.

Skip

Footer

  • Contact us
  • Accessibility
  • Disclaimer
  • Privacy
  • FOI
Last updated: 27 June 2023

© Department of Agriculture, Fisheries and Forestry

We acknowledge the Traditional Owners of country throughout Australia and recognise their continuing connection to land, waters and culture. We pay our respects to their Elders past, present and emerging.