Acreage for Sale in Tasmania

Acreage for Sale in Tasmania in 2020 - A GoRegional Review

Strong demand from buyers saw an 11.1% increase in median price per hectare for Tasmanian acreage last year, according to Rural Bank's Farmland Values report. The new median price of $10,930/ha in 2019 is a record high, continuing a long-term positive trend in Tasmanian property prices which has seen the median increase by 71.6% since 2012.

“The 2019-year experienced greater demand for rural properties than the market supplied in all regions. With this demand, Tasmania has again experienced consistent growth in rural values. The demand has been driven by international, national and local producers recognising the value of high irrigation surety, access to markets, stable government coupled with confidence in commodity pricing.”

~Dean Lalor, Rural Bank, Launceston.

Farmland prices across Tasmania varied with the amount of land being sold, as shown below: 

Median price per hectare increased for every parcel size range, but the strongest growth was seen by parcels of 120+ ha, which recorded a 64.3% increase. 

To break down our explanation of acreage for sale in Tasmania, we'll take a look at the median price per hectare of each region of the state. If you're considering purchasing a rural property in one of these regions, use these data points along with common sense and  expert guidance to ensure you're getting the best possible price.  

Acreage for sale in Northern Tasmania

The farmland market in Northern Tasmania enjoyed a strong year, with an increase in median price per hectare of 26.1% to $10,553 on the back of strong commodity prices and reliable growing seasons. 

To break acreage prices down by parcel size in Northern Tasmania: 

The smallest parcel size range was the only one to record a decline in median price per hectare, while all other parcel size ranges recorded strong growth. 

Acreage for sale in North West Tasmania

North West Tasmania enjoyed a modest increase of 2.0% to $13,782 in median price per hectare of land. The regions of Burnie and Waratah-Wynard recorded the most significant growth in median price, while Devonport and Central Coast saw the largest decline. 

"There was very high demand for all types of rural land especially dairy and cropping land. Anything with good water supplies received a premium and prices closed at near an all-time high.”

~ James Cameron, Rural Bank, Launceston

To break acreage prices down by parcel size in North West Tasmania: 

The median price per hectare increased for every parcel size range except for the 40-80ha range, which only decreased by 4.2%. Larger parcel sizes (80 ha+) recorded the strongest growth in median price last year, and also enjoy the highest long-term growth. 

Acreage for sale in South Tasmania

Median price per hectare of farmland in South Tasmania saw a slight decline of 6.5% last year, taking the value of this indicator to $5,250. Despite this second consecutive year of decline, the median price is still considered high from a historical perspective. Sorell, Southern Midlands and Clarence enjoyed a growth in median price, while all other municipalities recorded lower median prices. 

To break acreage prices down by parcel size in South Tasmania: 

Significant declines in median price per hectare were recorded for 15-40 ha parcels (-33.6%) and 80-120 ha parcels (-47.3%). Parcels of 40-80 saw a significant growth of 40.0% in this value, and 120+ ha parcels a respectable growth of 9.4%. 

Acreage for sale in King Island

King Island saw a decline of 7.2% in median price per hectare of farmland last year, taking the value to $6,506. Despite this decline, the median remains high from a long-term point of view. 

Acreage for sale in Flinders Island

Flinders Island recorded a 66.7% increase in median price per hectare to $4,715 last year.

A low number of transactions causes the median for this region to be volatile, so year-on-year changes tend to have more to do with the mix of properties sold rather than movements in the market. However, Flinders Island's long-term trajectory is one of growth, with a compound annual growth of 9.0% over the past 20 years.