The rural property market in Australia seems to be becoming popular, according to a new report from Colliers International.
Its Rural and Agribusiness Research and Forecast Report 2013 said that farmers are looking to buy property from their neighbours while international buyers and corporations are also eyeing up these areas.
Buyers seem particularly interested in wine, sugar and large cropping properties. Additionally, people who look to get such properties as a means of getting into the industry can expect to see success. The economic pick up in Australia and a rising middle class means that profits will be higher.
International director of agency/rural and agribusiness Tim Altschwager explained that these particular fields of rural property are attracting interest.
He said: "While the Australian rural property market has remained relatively subdued over the past 12 months, there has been solid interest in specific sectors including the wine industry and larger cropping properties in reliable rainfall districts."
Posted by Craig Francis